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.
British Prime Minister Theresa May today called off a Tuesday vote by the U.K. Parliament on her negotiated plan to withdraw from the European Union. Without giving a specific timeline, May said the vote was delayed because she believed her Brexit plan "would be rejected by a significant margin.”
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.
The U.S., Mexican and Canadian presidents signed off on the renegotiated North American Free Trade Agreement today, taking the three countries closer to preserving virtually tariff-free agriculture trade.