The “phase one” trade deal with China is paying off substantially for commodities like soybeans, corn, wheat and sorghum, but it’s hit or miss for specialty crop farmers, many of whom are still trying to find replacement markets.
The Trump administration’s imposition of tariffs on imported steel, which resulted in retaliatory tariffs on a wide range of farm goods, has survived a constitutional challenge in the Federal Circuit Court of Appeals.
President Donald Trump says he wants a trade agreement with India, but suggested Tuesday that a partial pact will come first, followed by a more comprehensive deal later this year or after the election.
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.
China announced Friday it will increase tariffs on $75 billion worth of U.S. agricultural and other goods by 5-10% in retaliation for U.S. plans to hit about $300 billion worth of Chinese exports with new import taxes.
Trade and agriculture issues may play unusually prominent roles in congressional races this fall as Democrats look to seize control of the House and hang on to Senate seats they hold in farm states that President Donald Trump carried in 2016.