China is dropping tariffs on feed ingredients from five Asian countries as it seeks supplies that do not originate in the United States. The ongoing trade war between the U.S. and China is bringing further tariffs on U.S. soybeans and coproducts imported to China, as retaliation on U.S. tariffs implemented on China. Thus, China is seeking cheaper soybeans, soymeal, soybean …
Trade Promotion Authority to Auto-Renew
Trade Promotion Authority will auto-renew at the end of this month due to no congressional action. Originally authorized by Congress during the Obama administration for the advancement of the Trans-Pacific Partnership, TPA will auto-renew for another three years. The renewal comes due to the inaction by the House and Senate during a three-month window to pass a resolution of disapproval …
China Says Washington Trade Actions Will Hurt American Workers
A Reuters report says China accused the Trump Administration of being capricious in its handling of trade issues. Chinese government officials warned U.S. workers and farmers that they’ll be hurt because of the administration’s brandishing of “big sticks.” Beijing officials said previous bilateral discussions with the U.S. were effective. However, the commerce ministry spokesman says Beijing has had to respond …
EU Imposes Retaliatory Tariffs on the U.S.
The European Union’s (EU) response to Trump’s steel and aluminum tariffs take effect Friday, June 22, 2018. The EU will be charging import duties of 25 percent on a range of U.S. goods. Reuters reports that the European Commission formally adopted a law putting in place the duties on 2.8 billion euros, or $3.2 billion, worth of U.S. goods, including …
Cattlemen Dealing with Fake Meat and Trade
There are various issues facing cattle producers across the country right now, but two of the top ones are fake meat and trade. While attending the 2018 Florida Cattlemen’s Association Convention and Trade Show in Orlando, National Cattlemen’s Beef Association (NCBA) President Kevin Kester talked with AgNet Media’s Gary Cooper about both of those issues. Cattlemen Dealing with Fake …
China Could Step Up Trade War Tactics
China could ratchet up its trade war tactics against the United States as President Donald Trump has escalated the trade war between the two nations this week. Politico points out that China knows how to fight a trade war and could go beyond retaliatory tariffs next. China has been known to successfully encourage its 1.4 billion population to give up …
Heitkamp: Trade War Strikes at Rural Economies
North Dakota Senator Heidi Heitkamp says if President Trump follows through with tariffs on China announced this week China’s retaliation would be “both strong in quantity and gravity.” The comments come as China indicated it would impose retaliatory trade barriers that are against U.S. goods if the administration follows through with the threat, causing soybean prices to plummet to a …
Trump Escalates Trade War with Additional Talks of Tariffs
President Donald Trump is taking the trade war with China to an unprecedented level that would impose tariffs on nearly every export China sends to the United States. Following the announcement Monday night by Trump that he is seeking an additional $200 billion worth of tariffs, China is looking to retaliate, again. Trump says if China does, he would seek …
Trade War Costly for U.S. Farmers
The trade war between the U.S. and China is proving to be costly to U.S. farmers, just as President Trump announced the intent for further tariffs, escalating the tense state of affairs. University of Illinois agriculture economist Scott Irwin this week on Twitter says the outlook has “moved into disaster territory,” specifically, regarding soybeans. Jim Bower of Bower Trading in …
Farmers for Free Trade Places More Anti-Trade War Advertising
Farmers for Free Trade is again placing advertisements on cable television showing an on-the-ground look at how current trade disputes are damaging export markets for U.S. farmers. In conjunction with the U.S. Apple Association, the advertisement targets the retaliations to the Section 232 tariffs that include U.S. apples. Airing on television news networks frequently watched by President Trump, the advertisement …