A White House adviser says the U.S.-Mexico-Canada Agreement (USMCA) is a model for future trade agreements. USMCA will replace the North American Free Trade Agreement (NAFTA), if approved. Kevin Hassett, chairman of the White House Council of Economic Advisers, said this week that other potential agreements will “look very much alike, and very much like this,” according to Politico. His …
Trade News Has Pork Producers Feeling Optimistic
News on the trade front is getting better for U.S. pork producers as the Trump administration announced it wants to negotiate trade agreements with the European Union, Japan and the United Kingdom. The National Pork Producers Council commended the administration for its ambitious trade agenda. The administration recently updated agreements with Canada and Mexico and with South Korea that maintained …
U.S. Agricultural Export Opportunities in South Korea
South Korea is one of the most reliable export markets for U.S. agricultural goods. Its vibrant economy offers easy access to modern retail outlets and is home to a large urban population seeking convenient and healthy food products. Increasing wealth, a growing number of women in the workforce, and a younger generation seeking international foods are also contributing to the …
U.S. Seeking Trade Agreements with Japan, EU, UK
The U.S. formally announced it will seek trade agreements with Japan, the European Union and the United Kingdom. U.S. Trade Representative Robert Lighthizer announced this week that the U.S. will seek to negotiate three separate trade agreements with Japan, the EU and the U.K. The European Union has downplayed the announcement, despite ongoing exploratory talks since this summer. The EU …
Pork Producers Encouraged by Trade Announcement
Representatives of the U.S. pork industry say “we’ve got the momentum on trade headed in the right direction.” National Pork Producers Council President Jim Heimerl stated “pork producers are hurting because of retaliatory tariffs on pork,” but says their patience is starting to pay off. The comments followed the formal announcement that the U.S. is seeking new free trade agreements …
McConnell: No NAFTA 2.0 Vote This Year
As expected, the U.S. Senate will not consider the updated North American Free Trade Agreement (NAFTA), known as the U.S.-Mexico-Canada Agreement (USMCA), in 2018. Senate Majority Leader Mitch McConnell told Bloomberg News a vote on the updated agreement would not happen until after the New Year, saying “My trade advisers say you can’t possibly do it under the various steps …
Trudeau Says USMCA Keeps China Trade Door Open
Canada’s Prime Minister says the new U.S.-Mexico-Canada Agreement (USMCA) allows Canada to move forward with trade talks with China. Despite a provision in the text of the agreement that allows the U.S. to opt-out of the deal if Canada or Mexico engages with China, Justin Trudeau claims the provisions were “watered down” in the final version of the agreement. He …
International Trade Commission to Review USMCA
The U.S. International Trade Commission will review the U.S.,-Mexico-Canada Agreement next month. The Commission is scheduled to meet November 15th for an economic review of the trade agreement that will replace the North American Free Trade Agreement. Politico reports that the ITC probe, which is required by Congress, formally launched Friday. The Commission has until mid-March to complete its report, …
Agri View: Trade War Damage
Everett Griner talks about who loses in a trade war in today’s Agri View. Trade War Damage Trade war — it has been going on for almost half a year now, and nobody has any notion of when it will end. Unlike a real war where many people are hurt, trade war hurts everybody, especially the producer. Look at this: …
Southern Africa: A Promising Region for U.S. Agricultural Exports
Two-way agricultural trade between the United States and Southern Africa has grown significantly in the past decade, reaching a record $1.5 billion in 2017. The region imported $14 billion in agricultural and related products last year and the potential for U.S. export growth is strong, given that many of these are products that the United States produces competitively. USDA’s Foreign …