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 …
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 …
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 …
Canada, U.S. NAFTA Talks Appear to be Progressing
The North American Free Trade Agreement (NAFTA) talks between the U.S. and Canada continue as farm leaders remain hopeful an agreement will be made soon. A small group of state Farm Bureau President’s met with the administration this week and walked away with a positive view that an agreement could quickly be made, along with the future of trade talks …
Roberts, Stabenow Announce Ag Trade Hearing
The Senate Agriculture Committee will hold a trade hearing next week, titled “Perspectives on U.S. Agricultural Trade.” Among those attending the hearing is Dr. Robert Johansson, the Chief Economist at the Department of Agriculture and mastermind behind the USDA trade mitigation package formulas. The hearing could serve as a chance for Congress to better understand how Johansson figured the payment …
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 …