President Donald Trump today announced the U.S. will hit China with $50 billion worth of tariffs on more than 1,000 Chinese productds, taking the U.S. closer to a trade war with the Asian nation, which has threatened to hit back with tariffs on U.S. soybeans, wheat, corn and other commodities.
Many of Donald Trump’s biggest supporters live in rural America, where it’s not unusual to see Trump flags flying high, along with caps and bumper stickers boasting his signature “Make America Great Again” campaign theme. But his actions on trade, are making farmers and ranchers increasingly nervous.
Pork exports were a hot topic at the World Meat Congress for both the challenges ahead in a very uncertain trade environment and growing opportunities as global consumers demand more protein and innovative food products.
U.S. beef producers are excited about the possible sales opportunities that could result in China’s increased desire for beef, but the same could be said for every country that sends beef to the People’s Republic.
The fate of the North American Free Trade Agreement remains uncertain and a trade war with China continues to loom heavy over rural America, but the long-term forecast for U.S. soybean exports remains bullish, propped up by optimistic forecasts from the USDA.
Brazil, known and often reviled in the U.S. ag sector for its successful World Trade Organization challenge to U.S. cotton support programs, is now suspected breaking WTO rules by subsidizing its rice exports.
U.S. almond farmers were just starting to put behind them a port strike three years ago that decimated exports, and now they are bracing for the impacts of a new 15 percent Chinese tariff that's just one aspect of the burgeoning U.S.-China trade war.
U.S. rice farmers and millers are climbing one of the final obstacles to gaining access to China’s massive import market, but there isn’t much celebrating going on. That’s because the two countries have come to the brink of an all-out trade war and it's looking like rice trade may become just one more casualty.