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 …
Industry Coalition Opposes New China Tariffs
A coalition of more than 150 business groups, including several in agriculture, wrote a letter to U.S. Trade Representative Robert Lighthizer this week regarding trade. The Hagstrom Report says the groups fear additional 10 percent or 25 percent tariffs, put in place under Section 301 authority, will backfire. The letter says, “Continuing the tit-for-tat escalation with China only serves to …
ASTA Requests Exemptions for Seeds on Proposed Chinese Tariffs List
The American Seed Trade Association (ASTA) is requesting that seeds for sowing be exempted from the proposed list of supplemental retaliatory tariffs on China under Section 301 of the Trade Act of 1974. The request was made in a formal letter to U.S. Trade Representative Robert Lighthizer. “While we support the administration’s push for stronger intellectual property protection and enforcement globally, at …
Tariffs Impacting Ag Equipment Manufactures, Dealers
A survey by the Association of Equipment Manufacturers finds steel and aluminum tariffs are harming the industry. The survey, primarily focused on the current new equipment inventory levels, shows both dealers and manufacturers are aware of the potential effect of steel and aluminum tariffs on the industry. The survey found that overall, new inventory numbers are favorable, when traditionally dealers …
China Predicted to cut U.S. Soybean exports
China’s exports of U.S. soybeans are expected to plummet over the next marketing year, according to the latest forecast. A soybean crushing industry executive told Reuters this week that China will almost entirely replace its soybean imports from the United States with Brazilian beans and other origins in the upcoming season. The latest forecast from China predicts Imports from the …
Trump Threatens to Add $200 Billion in More Tariffs
Bloomberg says President Trump wants to proceed with another $200 billion in tariffs on Chinese imports as soon as the public comment period wraps up next week. Six people familiar with the matter spoke anonymously with Bloomberg for the article. Companies and people have until Sept. 6 to submit comments on duties that will cover everything from semiconductors to selfie …
USDA Trade Mitigation Plan Includes More Commodity Purchases
Most of the money allocated to the new USDA program to help farmers hurt by tariffs will go towards direct payments. But according to a story from Gary Crawford, there is a considerable amount of money that will be used for purchases of food products for feeding programs. USDA Trade Mitigation Plan Includes More Commodity Purchases-1 Greg Ibach, Undersecretary of …
NCC on Support for Cotton Growers
The U.S. Department of Agriculture (USDA) announced details for their tariff mitigation plan to help farmers and ranchers in response to the retaliatory tariffs other countries have put in place against U.S. agricultural exports. Reece Langley, Vice President of Washington Operations for the National Cotton Council (NCC), has more information on how the program will work for U.S. cotton growers. …
AFBF Duvall on Trade Progress with Mexico and Tariff Mitigation Package
The following statement regarding the announcement of trade progress with Mexico, and the the Agriculture Department’s tariff mitigation package, can be attributed to American Farm Bureau Federation (AFBF) President Zippy Duvall: Trade Progress with Mexico is a Good Start “Farmers and ranchers are ready to move forward on trade with our nearest neighbors. Farm Bureau is excited about this announcement …