Chinese trade negotiators did an about-face on Friday, canceling a visit to meet U.S. farmers after they wrapped up trade talks in Washington last week. A CNBC article says the Chinese delegation is headed back to China earlier than planned. Nicole Rolf, director of national affairs with the Montana Farm Bureau, says there wasn’t any explanation as to why they …
Tariff Increases Delayed as ‘Good Will’ Gesture
The tariff increases for Chinese imports that were scheduled to be implemented on Oct. 1 are now being delayed by two weeks, in what President Donald Trump is calling “a gesture of good will.” The announcement made via Twitter came on the heels of Chinese officials granting a one-year exemption on retaliatory tariffs on 16 American products. President Trump noted …
NPPC Statement on China Market Access
WASHINGTON, D.C. (NPPC-Sept. 13, 2019) — Chinese media reported that it was suspending the imposition of punitive tariffs on U.S. pork imports. The following is a statement from National Pork Producers Council (NPPC) President David Herring, a pork producer from Lillington, N.C.: “If media reports are accurate, this is a most welcome development. The Chinese have placed punitive tariffs of …
China Ready to Purchase U.S. Ag Goods
(NAFB-September 11, 2019) — China is expected to agree to purchase more U.S. agricultural products in hopes of a better trade agreement. The South China Morning Post reports working-level officials were discussing the text of a deal, which would be reviewed when trade officials meet in Washington next month. The text is based on details negotiated back in April, before …
U.S. and China to Talk Trade Next Month
It has been announced that negotiators from the United States and China will meet in October to discuss trade issues. Following a phone conversation between China’s Vice Premier and U.S. Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer Thursday morning, China announced negotiators plan to travel to Washington next month for high-level talks, and will continue consultations through …
Hoping to Restore Trade Relations with China
Trade issues have been a concern for many in agriculture for quite some time, especially with what has been taking place between the U.S. and China. It was back in April when the National Cotton Council (NCC) joined with more than 40 other agricultural organizations in writing a letter to President Trump regarding the trade situation with China. And NCC Vice President …
Trump Says Tariff Income to Help Hurricane-Damaged Farms
(NAFB) — President Donald Trump told reporters Wednesday that money the U.S. receives from tariffs on China will help farmers recover from Hurricane Dorian. Trump says, “we’ve taken in many billions of dollars of tariffs from China and we will have a lot of money to be helping our farmers along the coast if they get hit.” The President made …
CBO: Trade War to Slow Economic Growth
(NAFB) — The bipartisan Congressional Budget Office says the trade war will slow economic growth, adding more fears of a possible recession.The CBO says tariffs, which reduce U.S. gross domestic product through higher prices, reduces consumer purchasing power. The report predicts the economy will grow at 1.8 percent per year over the next decade, below historical average growth rates. Agriculture …
Another China Tariff Announcement Signals More Trouble
(AFBF) — The following may be attributed to American Farm Bureau Federation President Zippy Duvall: “China’s announcement of imposing additional tariffs on $75 billion of U.S. imports signals more trouble for American agriculture. Farm Bureau is currently assessing the details of this announcement, but we know continued retaliation only adds to the difficulties farm and ranch families are facing and …
American Soybean Association on Chinese Tariff Escalation
Washington, D.C. (ASA) — China has announced it will impose an extra 5% tariff on U.S. soybeans starting Sept. 1 and an additional 10% duties on other major U.S. crops also grown by many soybean farmers starting mid-December. These latest details come after China vowed earlier this week that it will retaliate if the U.S. goes through with its plan …