AEM worked to discourage President Trump from imposing heavy tariffs on steel and aluminum imports after the president said he intended to do just that this week. AEM is assessing the impact of Trump’s announcement last week that he would impose 25 percent import tariffs on steel and 10 percent import tariffs on aluminum. “President Trump shouldn’t undercut his own …
Grain, Dairy Markets Worried About Trade War
Analysts are saying that President Trump’s decision to impose tariffs on steel and aluminum imports could be hard on farmers. Farm Journal’s Ag Web Dot Com points out that, while Trump hasn’t officially imposed the tariffs, the decision doesn’t have the support of his entire Cabinet and has raised eyebrows all over the world. Jeff Harrison of Combest, Sell, and …
NAFTA Round Seven Wrapped Up Monday and Facing More Questions
The seventh round of talks to renegotiate the North American Free Trade Agreement (NAFTA) wrapped up Monday in Mexico City. The three countries have taken some incremental steps toward agreements on some of the lower-level issues. However, trade negotiators and almost anyone else interested in the NAFTA negotiations acknowledged that the looming threat of U.S. tariffs on steel and aluminum …
WTO Worried About Trade Wars Resulting from Trump Tariffs
The head of the World Trade Organization (WTO) is concerned about President Donald Trump’s plans to impose a tariff on both steel and aluminum imports into America. Director General Roberto Azevedo says a trade war is in no one’s best interests. “The WTO is concerned about the U.S. plans for tariffs on steel and aluminum,” he says, “and the potential …
European Union Will Hit Back Against U.S. Tariffs
The President of the European Commission says he’ll “bring forward in the next few days a proposal for WTO-compatible countermeasures against the U.S.” Politico says the move is intended to hit back against the steel and aluminum tariffs announced on Thursday by President Trump. The Commission says the 25 percent tariff on steel and 10 percent on aluminum will directly …
Ag Groups Concerned About Trade Retaliation
U.S. Wheat Associates and the National Association of Wheat Growers were both very disappointed in the Trump Administration’s decision to impose tariffs on steel and aluminum imports. A statement says they have repeatedly warned of the risks of retaliation and the precedent set by such a policy would have potentially serious consequences for agriculture. The groups say it’s disappointing that …
Trump Will Impose New Tariffs on Steel and Aluminum
After hosting what the White House initially called a “listening” session, President Donald Trump took American investors by surprise Thursday. Trump announced to the group attending the meeting that he will be imposing the long-rumored steel and aluminum tariffs next week. A Zero Hedge Dot Com article says the president will impose a 25 percent tariff on steel imports and …
U.S. Frozen Beef Tariff Increase Starts in Japan
Late last week, Japan announced its “safeguard” tariff on frozen U.S. beef, increasing the tariff from 38.5 percent to 50 percent. The new rate begins today, August 1, and will last through March 31, 2018. The United States beef industry says had the Trans Pacific Partnership agreement been in effect, or if the U.S. had a bilateral trade deal with …
Secretary Perdue Regarding Japan’s Planned Increase of Tariff on U.S. Frozen Beef
The government of Japan has announced that rising imports of frozen beef in the first quarter of the Japanese fiscal year (April-June) have triggered a safeguard, resulting in an automatic increase in Japan’s tariff rate under the WTO on imports of frozen beef from the United States. The increase, from 38.5 percent to 50 percent, will begin August 1, 2017, …
Delay of Decision to Impose U.S. Ethanol Import Tariff
The Executive Management Committee of CAMEX, Brazil’s Chamber of Foreign Trade, announced Tuesday a 30-day delay of a decision on a pending proposal to impose a 20 percent tariff on U.S. ethanol imports. The proposal would allow 500 million liters (132.1 million gallons) annually of U.S. ethanol imports before triggering the tariff. The following is a joint statement on this …