The Trump Administration has no plans in place for 2019 to give any more aid to farmers hurt by tariffs. Bloomberg says that’s based on assumptions that markets will recover even if the trade war with China keeps going. Ag Secretary Sonny Perdue made that announcement last week. Back in July, the administration announced it would deliver $12 billion in …
Grassley: No Trade Aid for Smithfield Foods
When it comes to just who is eligible for trade aid, Iowa Senator Chuck Grassley said Smithfield Foods shouldn’t be one of the companies which are eligible help. Smithfield is owned by Chinese conglomerate WH Group. Grassley took to Twitter and says, “Smithfield seems to be in a ‘can’t-lose’ situation thanks to American taxpayers.” A spokesman for the Iowa Republican, …
Federal Reserve: NAFTA 2.0 Won’t Help Dairy Industry
The North American Free Trade Agreement (NAFTA) replacement will not benefit dairy farmers, according to the Federal Reserve Bank. A report by the Federal Reserve says gains made by the new U.S.-Mexico-Canada Agreement that will replace NAFTA are “too small and too far in the future to help dairy farmers.” The Minneapolis Fed reported that “a substantial number of dairy …
Grain Industry Seeks to Modernize Global Ag Commodity Trade
The world’s largest grain processors are jointly seeking to standardize and digitize global agriculture shipping transactions. Archer Daniels Midland, Bunge, Cargill and Louis Dreyfus announced the collaboration this week in an effort to benefit the entire industry and seek broad-based industry participation to promote global access and adoption. Initially, the companies are focused on technologies to automate grain and oilseed …
China Wants to Stop Buying U.S. Soybeans
The biggest move by China against the U.S. in the tit-for-tat trade war could be a movement towards abandoning U.S. soybeans. China, facing a potential shortage following its 25 percent tariff on U.S. soybeans, is already purchasing from other suppliers and proposing to cut the amount of protein used in livestock feeds. CNN reports that one of China’s top feed …
Dairy Industry Applauds Work to Deepen Philippine Trade Relations
The U.S. Trade Representative announced progress in talks with the Philippines under the bilateral Trade and Investment Framework Agreement (TIFA). U.S. dairy producers and processors appreciate the Administration’s work to preserve and deepen market access ties with a country that purchased $243 million in U.S. dairy products last year. In a joint statement released about the recent achievements in resolving …
Trump, China, To Talk Trade at G20
President Donald Trump is tentatively scheduled to meet with Chinese President Xi Jinping during the Group of 20 nations, or G20 summit next month. The two are expected to discuss the ongoing trade dispute between the U.S. and China. White House economic adviser Larry Kudlow told Bloomberg News that U.S. goals are on the table and that the two leaders …
Canada, Mexico, Want Steel and Aluminum Tariffs Lifted
Canada and Mexico want the U.S. to remove steel and aluminum tariffs now that a NAFTA 2.0 framework is in place. Canada has asked the U.S. to lift the tariffs “as soon as possible.” Mexico’s top negotiator for the North American Free Trade Agreement, now the U.S.-Mexico-Canada Agreement, says Mexico should not sign the agreement until the tariffs have been …
NMPF Asks USDA to Bolster Dairy Aid Package
The U.S. Department of Agriculture (USDA) needs to better reflect the dairy-farm incomes lost to tariff retaliation when it calculates its next round of trade mitigation payments, the National Milk Producers Federation (NMPF) said. In a letter sent Tuesday to Agriculture Secretary Sonny Perdue, NMPF Chairman and dairy farmer Randy Mooney cited four studies illustrating that milk producers have experienced …
Japan-EU Trade Deal to Increase Market Competition
A trade agreement between the European Union and Japan will increase competition for the United States. Japan’s conclusion of the trade agreement, and efforts to complete the Comprehensive and Progressive Trans-Pacific Partnership, will increase competition in Japan for U.S. oilseed and vegetable products, according to the Department of Agriculture Foreign Agricultural Service. The two agreements contain tariff concessions for a …