European Union Trade Commissioner Cecilia Malmstrom is continuing to petition the United States for exemptions to the upcoming steel and aluminum tariffs. Politico quotes her as saying the tariffs will shake the transatlantic relationship between the countries if they go into effect. She told Commerce Secretary Wilbur Ross during a phone call that the EU “as a close security ally …
USDA Announces Regionalization Agreement with South Korea
Help Protect U.S. Trade During HPAI Detections The United States Department of Agriculture (USDA) announced an agreement with the government of South Korea that significantly reduces negative impacts on trade should another detection of highly pathogenic avian influenza (HPAI) occur in the United States. The agreement will allow for trade restrictions at the state level instead of the country level …
Mexico Seeks Closing Seven NAFTA Chapters in Next Round
Trade officials in Mexico say they hope to close seven chapters in the next round of North American Free Trade Agreement (NAFTA) Talks, planned for Washington, D.C. next month. Mexico trade officials told Politico the goal of the next round is to close seven chapters that are 90 percent complete and include telecommunications, digital trade, technical barriers to trade, energy, …
Cranberries Targeted by EU in Trade Spat
The European Union classifies cranberries as a retaliation target in response to President Trump’s steel and aluminum tariffs. Bloomberg reports cranberries are among a basket of all-American goods, from peanut butter to bourbon whiskey and Harley Davidson motorbikes, singled out by the European Union. A lawmaker from Wisconsin says U.S. dairy is on the list as well, though the official …
Trump Wants China to Cut Trade Deficit by $100 Billion
The White House has asked China to come up with a plan that would cut $100 billion off the trade deficit it currently has with the U.S. An administration official says that would be a reduction of more than 25 percent from last year’s trade gap with China. Bloomberg says the U.S. trade shortfall in goods traded with China surged …
Farmers for Free Trade Launching $500,000 Ad Campaign on Trade
Farmers for Free Trade is gearing up for a half-million-dollar ad campaign for a new television ad warning against the aggressive trade policies of President Trump. Farmers for Free Trade says those policies make agriculture a prime target against trade retaliation. The ad will highlight Montana grain and oilseed farmer Michelle Erickson-Jones. It’s scheduled to run on Fox and Friends, …
U.S. Will Engage With TPP-11 Countries Regarding Fair Trade
Secretary of State Rex Tillerson says the United States will engage TPP-11 members, emphasizing a need for “fairness” in expanding trade relationships with nations involved in the pact. TPP-11, now known as the Comprehensive and Progressive Trans-Pacific Partnership agreement, or the CPTPP, was signed last week by the 11 remaining nations involved in the agreement. Tillerson made the comments last …
Soy Growers Worried About Possible Trade Disruptions at U.S. Ports
The American Soybean Association and its grower-members are urging labor union and port management representatives to get back to the negotiating table and resume bargaining talks. The ASA is concerned about possible trade disruptions at East Coast and Gulf of Mexico ports, which would negatively impact agricultural and food product exports to key markets. The ASA joined several industry stakeholders …
Business, Farm, Union Groups React to Trump’s Tariffs
Reaction to the tariffs on steel and aluminum imports has been mixed among different sectors of the economy. The Hagstrom Report says Business Roundtable President and CEO Joshua Bolten calls the tariffs a major unforced error by President Trump that will put America’s economic progress at risk. He says, “The tariffs will cause significant harm to industries that rely on …
TPP Leaves U.S. Behind
The 11 remaining Trans-Pacific Partnership (TPP) countries officially left the U.S. behind Thursday, signing an amended agreement that does not include the United States. The 11 nations signed what is now called the Comprehensive and Progressive Agreement for Trans-Pacific Partnership the same day the U.S. moved to a more trade protectionist status, rolling out tariffs for steel and aluminum imports. …