President-elect Joe Biden tells a New York Times columnist that he won't immediately remove the 25% tariffs on Chinese exports, but instead will reassess the situation and work with allies to pressure China to stop intellectual property abuses.
China’s imports of U.S. agricultural commodities are rising steadily, but the pace is still well below where it needs to be for the Chinese to meet its first-year commitments under the “phase one” trade pact that went into force in February, according to data analyzed by Agri-Pulse.
Chinese importers purchased enough U.S. soybeans this week to fill 11 Panamax-sized ships, signaling that the country is counting on the upcoming U.S. harvest to fulfill its needs in the final five months of the calendar year. The buyers are likely state-owned companies such as COFCO of Sinograin.
We’re getting some new clarity in congressional races that are critical to agriculture policy. The Republican field in the Kansas race to succeed Senate Agriculture Chairman Pat Roberts is now set. Secretary of State Mike Pompeo declined to file for the race. The deadline was noon on Monday.
U.S. farmers and ranchers will have to wait longer for the expected surge of Chinese purchases agreed to under the "phase one" trade deal as the country grapples with trying to stop the spread of the coronavirus, National Economic Council Director Larry Kudlow said Tuesday.
China is going to lift tariffs to allow in more U.S. soybeans and pork, according to Xinhua News, a government-run media outlet, though it's unclear how much of the U.S. commodities will be allowed in, or for how long.
The USDA is now moving to open the U.S. border to Chinese chicken amid final talks between the two countries to wrap up a partial trade pact that is promised to result in China increasing its imports of U.S. ag commodities.