For the growth and renewed prosperity of agriculture, particularly with farm income on a downward slope, current trading relationships must be preserved and new opportunities for agricultural trade must be secured, the American Farm Bureau Federation said in a recent statement to the Senate Agriculture Committee. “Farm Bureau urges our trade officials to engage in discussions with our trade partners …
Senators Grill Administration Officials at Trade Hearing
Ag state senators peppered Trump Administration officials at USDA and the Office of the Trade Representative with questions regarding trade policy. The Thursday hearing focused on the Trump Administration’s policies and the resulting harm to American farmers from retaliatory tariffs. Politico says both Republicans and Democrats gave an earful to USDA chief economist Robert Johansson, Undersecretary for Trade and Foreign …
Trump: the U.S. Under “No Pressure” to Make Deal with China
President Donald Trump pushed back at the Wall Street Journal, which ran an article saying the U.S. was under pressure to make a deal with China. The Hill Dot Com says Treasury Secretary Steven Mnuchin recently invited Chinese officials to come to Washington for negotiations, which Beijing accepted. The Wall Street Journal reported that the invite came about because of …
Mexico Heading to Washington to Move NAFTA Forward
Mexican officials are on their way to Washington to work on the wording of the trade agreement between Mexico and the U.S. A Bloomberg article says they’re prepared to enter a bilateral agreement with the U.S. that would leave current NAFTA partner Canada out of the trading block. Kenneth Smith Ramos, Director of Trade and the NAFTA Office at the …
Trump Administration Seeking China Trade Talks
The Trump administration proposes a new round of trade talks between the U.S. and China to stop an additional round of tariffs on Chinese exports. The Wall Street Journal reports the invitation comes as the Trump administration senses new vulnerability—and possibly more flexibility—among Chinese officials pressured by U.S. tariffs imposed earlier this year and threats for more. Treasury Secretary Steven …
China Cuts Soybean Import Forecast
China this week lowered its forecast for the 2018-2019 import season for soybeans due to the trade conflict between the U.S. and China. Farmers are reducing their use of soybeans in animal feed in China as China has placed massive tariffs on U.S. soybeans. Imports of soybeans in the crop year that starts on October first will be 83.65 million …
USDA Details Trade Damage Estimate Calculations
U.S. Secretary of Agriculture Sonny Perdue released a detailed accounting of how the U.S. Department of Agriculture (USDA) calculated estimated damage from trade disruptions. USDA’s Office of the Chief Economist developed an estimate of gross trade damages for commodities with assessed retaliatory tariffs by Canada, China, the European Union, Mexico, and Turkey to set commodity payment rates and purchase levels …
State Ag Officials Voice Concerns with Trade Approach
State agriculture officials say the Trump administration needs to aggressively seek market access across the globe, while expressing concerns with the administration’s trade agenda. The National Association of State Departments of Agriculture passed two resolutions this week during its annual meeting that leadership says reaffirms the critical importance of international trade to the organization. The group of state agriculture officials …
NAFTA Main Sticking Point Indeed is Dairy
Negotiators from Canada returned to Washington, D.C. Tuesday in an effort to reach a deal on the North American Free Trade Agreement (NAFTA). Canadian Foreign Minister Chrystia Freeland joined U.S. Trade Representative Robert Lighthizer as the U.S. looks to wrap up talks with Canada quickly. However, talks are not expected the rest of the week with a looming hurricane along …
Indonesia and Australia Commit to Trade Agreement
Indonesia and Australia last week concluded negotiations on the Indonesia-Australia Comprehensive Economic Partnership Agreement. The partnership deepens the trade ties between the countries, benefiting a multitude of industries, including agriculture. The National Pork Producers Council says the organization is pushing for full access to the Australian market, noting that pork is the largest U.S. agricultural export to Australia. However, NPPC …