As much as growers long for an end to the trade war with China, there are long-term threats to demand for corn, soybeans and other crops that could depress commodity prices for years to come and lead to calls for higher government spending, economists say.
Beef and pork stole much of the spotlight when President Donald Trump and Japanese Prime Minister Shinzo Abe signed off on a trade pact last week, but many of the U.S. winners will be American specialty crop farmers.
USDA’s Risk Management Agency has issued a clarification of an earlier press release to make clear that farmers will receive a 15% top-up payment on prevented planting indemnities this year if their insurance policies had the Harvest Price Option.
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.