Data from the Department of Agriculture shows exports of farm goods will push higher in 2017. A forecast compiled by USDA predicts the value of agricultural exports in the fiscal year 2017 will hit nearly $140 billion, up $10 billion from the fiscal year 2016. With stronger exports and modest import increases in 2017, the U.S. will have an agricultural …
Most U.S. Farmers Will Feel Impact from Hurricane Harvey
Hurricane Harvey stands to harm virtually all of U.S. agriculture, in some way. Many ports that ship agricultural commodities are in the path of the storm, from Texas to Louisiana, where the majority of corn and soybeans destined for other nations leave the United States. Texas produces high volumes of cotton, wheat, rice, and soy and is a large exporter …
China, India, Call for End of Farm Subsidies by U.S., Others
China and India are calling for an end to farm subsidies by others, including the European Union and the United States. India-based newspaper Live Mint, a collaboration with the Wall Street Journal, reports China and India have jointly proposed the elimination of $160 billion of farm subsidies in the U.S., European Union, and other wealthy nations. The move comes months …
Agriculture Looks for Ways to Boost Exports
Agriculture is looking for every way possible to boost farm exports, at a time when other trade avenues seem to be limited or closed. TPP is off the table, the NAFTA renegotiations may or may not bear fruit, and U.S.-imposed sanctions on China over North Korea could invite retaliation. So where does U.S. agriculture go? One answer came recently when …
KORUS Review Could Follow NAFTA Renegotiations
The Donald Trump Administration appears to be planning to reexamine the United States-Korea Free Trade Agreement (KORUS) after the North American Free Trade Agreement renegotiations, if not sooner. Politico reports that U.S. Trade Representative Robert Lighthizer this week formally requested talks with South Korea to consider changes to the five-year-old deal, with a focus on reducing the $28 billion bilateral …
Trade Retaliation Worries Ag Groups
18 agriculture groups representing the majority of production agriculture sent a letter to the Trump administration recommending it avoid placing restrictions on steel and aluminum imports. The groups are worried that such a move would negatively impact U.S. food and agriculture exports. The groups said in the letter that, “the aftermath of those restrictions could be disastrous for the global …
A Rare Happening on the U.S. Agricultural Trade Front
There was a rare happening on the U.S. agricultural trade front this spring. Gary Crawford has the story. USDA trade economist Bryce Cooke has the U.S. agricultural trade numbers for the first eight months of this fiscal year. (From the U.S. Department of Agriculture)
Russia Extends Ban on U.S. and E.U. Produce
Russia has extended its ban on produce from the U.S. and the European Union through the end of 2018. The ban was first put in place in 2014 and includes the U.S., E.U., Norway, Ukraine, and several other countries. The ban was going to expire on January 1st but Russia extended its sanctions after the E.U. extended its own trade …
Pork Wants U.S. Bilateral Trade Deal with Japan
The European Union and Japan formally agreed to the outline of a free trade deal. America’s pork producers want to know why the U.S. isn’t moving on its own bilateral deal with Japan, the highest value market for U.S. pork exports. A Pork Network Dot Com article says now that the Trans-Pacific Partnership Agreement has gone away, the U.S. needs …
Trump Talks Trade with South Korea
President Donald Trump met with the new President of South Korea on Friday and opened up the session with tough trade talk. An L.A. Times article says Trump announced he will be renegotiating a trade agreement with South Korea that’s already been in place for five years. The agreement is a co-legacy for both Presidents Bush and Obama and it …