President Trump formally requested a three-year extension of trade promotion authority on Tuesday. Politico says the trade promotion authority allows the president to negotiate free trade agreements that he can submit to Congress under fast-track approval procedures. However, the request comes amid growing concerns in the Republican party over the direction of the administration’s trade policy. Trump’s message to Congress …
EU, U.S., to Talk Tariff Exemption
The European Union and U.S. Commerce Secretary Wilbur Ross are meeting in Washington, D.C. this week to consider a potential tariff exemption. The EU is exploring an exemption from President Donald Trump’s steel and aluminum tariffs, according to Politico. The EU is seeking “more clarity” on the criteria on which such an exemption could be granted. U.S. Trade Representative Robert …
Agri View: Trade, Politics Impacting Farm Jobs
Everett Griner talks about how trade and politics directly impact farm jobs and farming in today’s Agri View. Trade, Politics Impacting Farm Jobs The uncertainty of the future of NAFTA (North American Free Trade Agreement) has a lot of people, besides farmers, concerned. If you look at the current structure and the possibilities, you can see why. An estimated 21 …
NAFTA Agreement Vital to U.S. Dairy Industry
With the ongoing North American Free Trade Agreement (NAFTA) renegotiations, it most likely will be several more months before dairy farmers will know what to expect with our trading partners to the North and South. With Mexico being a vital market for U.S. dairy producers, a National Milk Producers Federation (NMPF) spokesperson says a new agreement should “do no harm” …
Senate Finance Committee Wants to Talk Trade, Tariffs
The Senate Finance Committee will hold a hearing next Thursday, March 22, regarding the Trump Administration’s trade policy. The Hagstrom Report says that U.S. Trade Representative Robert Lighthizer will be the lone witness at the proceedings. The committee chair, Republican Orrin Hatch of Utah, has been critical of President Donald Trump’s announced trade tariffs. Hatch says in a news release, …
Countries Asking U.S. for Tariff Exemptions
European Union Trade Commissioner Cecilia Malmstrom is continuing to petition the United States for exemptions to the upcoming steel and aluminum tariffs. Politico quotes her as saying the tariffs will shake the transatlantic relationship between the countries if they go into effect. She told Commerce Secretary Wilbur Ross during a phone call that the EU “as a close security ally …
USDA Announces Regionalization Agreement with South Korea
Help Protect U.S. Trade During HPAI Detections The United States Department of Agriculture (USDA) announced an agreement with the government of South Korea that significantly reduces negative impacts on trade should another detection of highly pathogenic avian influenza (HPAI) occur in the United States. The agreement will allow for trade restrictions at the state level instead of the country level …
Mexico Seeks Closing Seven NAFTA Chapters in Next Round
Trade officials in Mexico say they hope to close seven chapters in the next round of North American Free Trade Agreement (NAFTA) Talks, planned for Washington, D.C. next month. Mexico trade officials told Politico the goal of the next round is to close seven chapters that are 90 percent complete and include telecommunications, digital trade, technical barriers to trade, energy, …
Cranberries Targeted by EU in Trade Spat
The European Union classifies cranberries as a retaliation target in response to President Trump’s steel and aluminum tariffs. Bloomberg reports cranberries are among a basket of all-American goods, from peanut butter to bourbon whiskey and Harley Davidson motorbikes, singled out by the European Union. A lawmaker from Wisconsin says U.S. dairy is on the list as well, though the official …
Trump Wants China to Cut Trade Deficit by $100 Billion
The White House has asked China to come up with a plan that would cut $100 billion off the trade deficit it currently has with the U.S. An administration official says that would be a reduction of more than 25 percent from last year’s trade gap with China. Bloomberg says the U.S. trade shortfall in goods traded with China surged …