We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Privacy Terms and Cookie Policy
Shining Light on Farm & Food Policy for 20 Years.
Saturday, May 18, 2024
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.
The U.S.-China trade war could drag on for years, but a U.S. agreement with Mexico on rewriting the North American Free Trade Agreement could happen as soon as August, U.S. Trade Representative Robert Lighthizer said today in a Senate hearing.
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.
USDA officials are scrambling to put together a presentation on an assistance program to help mitigate the tens of billions of dollars in damage that’s expected to be done to farmers and ranchers as a result of the Trump administration’s multifront trade war with China, Mexico, Canada, the European Union and elsewhere.
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.
As the world’s two largest economic powerhouses entered a formal trade war last week, the United States stood alone in its dispute with China, lacking the support of our traditional allies.
