Concerns over agricultural trade weighed heavily on producers’ current and future expectations of the agricultural economy. As a result, the Purdue/CME Group Ag Economy Barometer tumbled in July, dropping 26 points to a reading of 117. To paint a further bleak picture, the Index of Current Conditions fell from 138 in June down to 99, while the Index of Future …
Beef Exports “Tremendous” in First Half of 2018
Strong June results capped a tremendous first half of 2018 for U.S. beef exports. That’s according to USDA data compiled by the U.S. Meat Export Federation. June pork exports were lower than a year ago for the second straight month, but first-half volume and value remained ahead of last year’s pace. Beef muscle cut exports set a new volume record …
Chinese Ag Tariff List Grows Longer
China announced on Friday that it’s ready and willing to put tariffs on another $60 billion worth of American imports. If it follows through on the threat, the total tariff bill on American goods will be $130 billion. Agriculture continues to be on the hit list. Politico says an informal translation of the new list includes hops, maple syrup, whey …
Chinese Import Tariffs May Climb Higher
The U.S. government is taking comments on a proposal to increase the tariff on Chinese imports from the current 10 percent rate up to 25 percent. The tariff increase would cover a wide selection of Chinese imports, including fruits, vegetables, garlic, and more. On June 18th, President Trump directed U.S. Trade Representative Robert Lighthizer to identify another $200 billion worth …
China Pushes Back Against U.S. Tariffs
China immediately responded to the latest U.S. tariff threat by publishing a list of $60 billion in U.S. imports it will lay tariffs on. That’s dependent on whether or not the U.S. follows through on its latest trade threats. Bloomberg says China will levy duties ranging from five percent up to 25 percent on more than 5,000 kinds of U.S. …
Soybean Growers Back in D.C. to Talk Trade Resolution
The American Soybean Association is back in Washington, D.C., just weeks after their July Board of Directors meeting. Grower leaders are meeting with officials at the Department of Agriculture and with lawmakers to talk over options for offsetting the long-term damage from China’s retaliatory tariff on American soybeans. John Heisdorffer, ASA President, says they know that President Trump is aware …
Canada Happily on NAFTA Sidelines, for Now
Canada may be sitting out on the North America Free Trade Agreement (NAFTA) talks, for now. However, Canadian officials say they are “perfectly happy” doing so, because “they have a number of issues to discuss that Canada does not need to sit in on,” according to Politico. That includes auto rules in the agreement, a contentious issue between the U.S. …
U.S., China Reportedly Trying to Re-engage in Trade Talks
The U.S. and China are trying to restart trade talks as the two nations square off in a trade war. The attempt comes as the Trump administration readies a new round of tariffs against China. Bloomberg reports representatives of U.S. Treasury Secretary Steven Mnuchin and China’s Vice Premier are having private conversations as they look for ways to re-engage in …
Poll Shows Voters Narrowly Support Aid for Farmers
A poll by Morning Consult and Politico shows nearly six in ten voters favor President Trump’s $12 billion plan to provide aid to farmers suffering from his trade policy. Nearly 2,000 registered voters were surveyed, and 57 percent either somewhat or strongly support the farmer aid package that was announced a week ago. Support came primarily from Republicans, with nearly …
U.S., Mexico, Leaving Canada behind in NAFTA Talks
The United States and Mexico are progressing on the North American Free Trade Agreement re-negotiations, leaving Canada behind, for now. Top trade officials from Mexico are in the U.S. this week after optimism showed through last week with a potential agreement on automotive rules as part of NAFTA, according to Politico, which notes progress on the contentious issue bodes well …