Items Tagged with 'retaliatory tariffs'

A federal appeals court ruled Friday that President Donald Trump improperly used a law to impose his sweeping retaliatory tariffs on countries around the world.

Justin Sherlock and other farmers in North Dakota are just a month away from combining their soybean crop, and their biggest market, China, has yet to order a single bushel. As a result, local cash bids in Sherlock’s area was down to $9.09 a bushel on Tuesday, $1.40 below the CME Group’s November futures price. That spread, or basis, would normally be about 70 to 90 cents a bushel, 

When an opportunity recently arose to visit my husband’s Canadian cousins in Calgary, I jumped at it. While I wanted to meet his relatives, visit Canada for the first time and see the majesty of the Canadian Rockies, I was most excited to visit the grocery store. In 2024, Canada was both the second-largest exporter of agricultural products to the U.S., representing 19% of all American agricultural imports, and the second-largest destination of U.S. agricultural exports at 17% of the total. 

U.S. exports of beef and pork were down in April from a year earlier as shipments to China slowed due in part to China’s retaliatory tariffs,  the U.S. Meat Export Federation said. The expiration of Chinese registrations of U.S. processing plants and cold storage facilities also contributed to the decline.

Tariffs imposed on trading partners by the Trump administration would shrink the economy and increase inflation but also would reduce budget deficits by $2.8 trillion from 2025 to 2035, the Congressional Budget Office estimated in a letter to Democratic leaders in the Senate.

President Donald Trump may find it difficult to impose across-the-board tariffs following recent court decisions that found he overstepped his authority under a law designed to address economic emergencies.

USDA is lowering its estimates of global corn and soybean stocks in a report that doesn’t account yet for the impact of reciprocal tariffs or of new duties on Canada and Mexico that President Donald Trump plans for April.

The European Union is preparing a list of American goods to hit with retaliatory tariffs after the U.S failed to comply with a World Trade Organization dispute panel regarding its tariffs on olives from Spain -- a case that puts the WTO at odds with U.S. law and the ways the country protects its agriculture producers.