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Shining Light on Farm & Food Policy for 20 Years.
Friday, April 26, 2024
China’s Commerce Ministry announced today it will soon be sending a trade delegation to the U.S. ahead of an escalation in tariffs, many of which are taking a toll on U.S. agriculture exports.
As U.S. leaders pledge to increase tariff rates on Chinese products and the Asian giant plans to retaliate, more farmers are asking: “How do tariffs really work?”
China today promised to strike back once again over a planned escalation of U.S. import taxes. The Chinese Finance Ministry announced it will increase tariffs on an additional $60 billion worth of U.S. products if the U.S. follows through with a plan to add tariffs to $200 billion of Chinese goods by September.
President Donald Trump today asked his top trade negotiator to consider increasing the pain from proposed new tariffs on $200 billion of Chinese goods, raising the rate to 10 percent to 25 percent.
President Donald Trump and European Commission President Jean-Claude Juncker agreed to new negotiations today aimed at ending the trade war in a deal that would somehow result in Europeans buying more U.S. soybeans.
The USDA on Tuesday rolled out an outline of a $12 billion assistance plan amid growing anger from lawmakers and farm groups over the impacts of foreign tariffs on farm commodities.
Farm group leaders and lawmakers railed against President Donald Trump’s trade policy and tariffs in a House Ways and Means subcommittee hearing today, bemoaning the effects on the ag sector as China, Mexico, Canada, the European Union, Turkey and others retaliate.
The Trump administration dispatched two of its top trade officials to meet with farm groups last week and the message was straightforward: The trade war that has generated tens of billions of dollars in tariffs on U.S. farm commodities isn’t likely to be over soon, and the ag sector needs to prepare for a lot more pain.
President Donald Trump is following through with promises to hit China with new tariffs on $200 billion worth of imports, U.S. Trade Representative Robert Lighthizer announced today, escalating a trade war that is already hurting the U.S. agriculture sector.
