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Shining Light on Farm & Food Policy for 20 Years.
Thursday, May 02, 2024
President Donald Trump announced today approval for billions of dollars in assistance payments for farmers who have been hurt by foreign tariffs during U.S. trade battles with China, Mexico, Canada and others.
The USDA announced Friday a 300,000 metric ton sale of U.S. soybeans to Chinese buyers, following a Thursday purchase announcement of 1.13 million tons.
The USDA confirmed Thursday morning that China has purchased 1.13 million metric tons of U.S. soybeans, ending months of virtually no purchases since the Chinese government levied a 25 percent tariff on soybeans, corn, wheat, sorghum and other ag commodities.
There were few major surprises in the last WASDE report of 2018, released Tuesday, with estimates of corn production and soybean production unchanged from November.
President Donald Trump and the White House have been making some big promises about China coming back into the market to purchase U.S. farm commodities, but the details over which products, how much, and when this will happen remain murky beyond descriptive terms like “massive amounts” and “immediately.”
President Donald Trump, while talking to reporters aboard Air Force One this weekend, dropped a trade bomb few were expecting: He said he planned to officially notify Mexico and Canada that he will pull the U.S. out of the North American Free Trade Agreement, giving Congress six months to ratify his new trade pact or suffer the consequences.
The White House announced Saturday night that China has agreed to “start purchasing agricultural products from our farmers immediately” after a dinner meeting between President Donald Trump, Chinese President Xi Jinping and high-level officials on both sides.
