Soybean farmers in Canada are feeling the impact of the U.S.-China trade war as soybean prices decline. CNBC reports that while Canadian soybean farmers could see an increased market share from importing nations, experts say the current soybean market plays a much more significant role. Since April, soybean futures have dropped nearly 20 percent in the United States, and Canadian …
Ag Shippers: NAFTA Trade War Costly
Union Pacific CEO Lance Fritz says trade disruptions are threatening to undermine an otherwise robust economy. The rail company, headquartered in Omaha, Nebraska, told the Omaha World-Herald that the current trade disruption: “Affects the 7,300 communities Union Pacific serves.” Specifically, the North American Free Trade Agreement (NAFTA) renegotiation effort is harming U.S. railways. About 40 percent of Union Pacific traffic …
Chinese Trade Surplus with U.S. Hits High Amid Tariff Concerns
The Chinese trade surplus with the United States hit a record number in June as its exports grew at a solid pace, something that could possibly make a trade dispute with Washington, D.C., that much worse. A Nasdaq.com article points out that it could be a “one-off” as Chinese exporters were rushing to get shipments out before tariffs went into …
McKinney to Lead Trade Mission to Southeast Asia
USDA Under Secretary for Trade and Foreign Agricultural Affairs Ted McKinney will lead a trade mission to Southeast Asia July 16-19. He’ll be joined by U.S. business and state government leaders who are seeking to expand agricultural opportunities in Southeast Asia. The trade mission will be based in Jakarta, Indonesia, but will also include delegations of buyers from Malaysia and …
U.S. to Further Implement Trade Tariffs
The U.S. plans to implement more tariffs on China as part of an ongoing trade war between the two countries. In a statement released this week, U.S. Trade Representative Robert Lighthizer says he was ordered by President Trump to begin the process of imposing tariffs of ten percent on an additional $200 billion of Chinese imports. The tariffs will follow …
EU Trade Chief: Targeting U.S. Ag in Tariffs Best Hope for Trade Change
In retaliating against trade tariffs, the European Union is doubling down on American Whiskey. EU trade chief Cecilia Malmström shut down a request to remove U.S. whiskey from the tariff list as fear the move would place further retaliation from the U.S. on Scotch whiskey. In making the statement, Politico reports Malmström intends to hit the U.S. “where it hurts,” …
Record Exports in May Take 2018 Ag Exports above 2017
The latest complete agricultural exports reports for the fiscal 2018 year take us up through May. And according to a story from Gary Crawford, they show U.S. export sales reaching a milestone. Record Exports in May Sponsored ContentCIR Agriculture Harvester ProductsJuly 1, 2026FL Cattle Enhancement Board Wraps up Funding YearJune 30, 2026Florida Cattle Enhancement Board Awarded Researcher Discusses New World …
Trump: No Hurry to Settle NAFTA
President Donald Trump told Fox News he’s not going to rush into a new North American Free Trade Agreement (NAFTA). He thinks the U.S. can get a better deal by waiting until after the dust settles on the midterm elections in the fall. Agriculture groups fall on the other end of the spectrum, wanting a deal done as quickly as …
May Beef Exports Shatter Record While Pork Exports Go Lower
U.S. beef exports set a new value record in May, while also significantly increasing year-over-year in volume. That’s according to new data released by the USDA and compiled by the U.S. Meat Export Federation. May pork exports were lower, although January-May totals for U.S. pork remained ahead of last year’s pace. Beef export volume was 117,871 metric tons in May, …
China Quickly Retaliating Against U.S.
Following implementation day of President Trump’s tariffs on China, the nation responded quickly to retaliate with previously threatened penalties on U.S. pork, beef, soybeans and automobiles. Meat industry publication Meatingplace reports China says Trump has “violated World Trade Organization rules and launched the largest trade war in economic history to date.” The first wave of tariffs was imposed Friday, which …