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Shining Light on Farm & Food Policy for 20 Years.
Wednesday, April 24, 2024
President Donald Trump signaled today that he’s serious about the U.S. rejoining the Trans-Pacific Partnership as a means to counteract China’s growing influence and leadership along the Pacific Rim.
If you followed Donald Trump’s presidential campaign, you know that he talked tough on trade – especially when it came to countries he believed were giving the U.S. a raw deal.
The Trump administration seeks to calm farmers’ fears about the escalating trade dispute with China, even as corn and soybean growers hope the crisis will at least end the White House’s consideration of intervening in the biofuel credit market.
USDA officials are working under increasing pressure to devise programs to help compensate farmers for expected losses due to new Chinese tariffs, but the complexity of the task is daunting, say government officials.
In the latest salvo of trade actions between the U.S. and Chinese governments, the Chinese Ministry of Commerce (MOC) announced plans today to impose a 25 percent tariff on $50 billion of U.S. goods, including soybeans, aircraft and automobiles, according to the Chinese News Agency, Xinhua.
U.S. rice farmers and millers are climbing one of the final obstacles to gaining access to China’s massive import market, but there isn’t much celebrating going on. That’s because the two countries have come to the brink of an all-out trade war and it's looking like rice trade may become just one more casualty.
The question of which country will be the first to sit down for serious negotiations on a bilateral free trade agreement with the U.S. under the Trump administration is still wide open, but India is likely a top candidate.
China is starting its retaliation against U.S. steel and aluminum tariffs today, announcing it is imposing its own tariffs on a list of 128 U.S. products that are mostly farm commodities.
The European Union, Brazil, South Korea, Japan and other steel and aluminum exporters are scrambling to try and get exemptions to President Donald Trump’s tariffs, while much of the U.S. ag sector is worried they’ll be harmed by a backlash.
