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Shining Light on Farm & Food Policy for 20 Years.
Tuesday, May 07, 2024
Japan agreed Wednesday to cut or eliminate tariffs on $7.2 billion worth of U.S. ag commodities and erect new quotas under a trade deal that U.S. President Donald Trump and Japanese Prime Minister Shinzo Abe signed Wednesday.
The next round of high-level U.S.-China trade talks are on schedule for next month despite the White House axing Chinese plans for a key official to tour U.S. farms and processing facilities this week.
House Democrats are still far from ready to ratify President Donald Trump’s new version of the North American Free Trade Agreement, but their demands represent just one of the threats to implementation of the updated trade pact that would keep most agricultural tariffs at zero.
China cancels plans to send a goodwill delegation to Montana and Nebraska after U.S. and Chinese negotiators wrapped up talks this week in Washington, a precursor to high-level negotiations planned for early October.
China’s latest promise to reduce tariffs on U.S. soybeans and pork is being lauded as an olive branch ahead of new trade talks early next month, but China also needs more of the commodities to feed its people, according to industry and government analysts.
China is planning to lift tariffs on U.S. pork and soybeans ahead of high-level talks between the two countries, but it remains unclear how steep the tariff cuts will be, according to U.S. ag groups and Chinese government-run media outlets.
The trade war between the U.S. and China could go on for months or years, according to erratic statements from the White House, but for the first time in weeks, there is renewed optimism because China has agreed to new negotiations.
Top U.S. and Chinese negotiators will meet in Washington next month to pick up on talks to try to end the trade war that is weighing heavily on U.S. farmers and manufacturers, according to Xinhua News, a Chinese government-run media outlet.
Democratic presidential hopefuls are raising alarms and lashing out at President Donald Trump’s handling of the dispute that’s expected to escalate even further next month.
