White House officials are telling the U.S. ag sector that they are going to win big in the miniature trade pact announced on Aug. 25 after Presidents Donald Trump and Shinzo Abe met on the sidelines of the annual G7 summit, but details are either not being divulged or haven’t yet been nailed down, government and industry sources tell Agri-Pulse.
President Donald Trump on Sunday confirmed that the U.S. and Japan have reached a preliminary deal to lower Japanese tariffs and increase market share for U.S. agricultural commodities. The deal, as reported Saturday by Agri-Pulse, is already being lauded as a success for farmers by major U.S. ag groups.
The Agriculture Department overhauled its Market Facilitation Program to broaden the number of farmers that would receive the trade aid, but officials may encounter new grumbling over the wide disparities in county payment rates.
By the end of the year, China is finally expected to implement the quotas for corn, wheat and rice as it agreed to do about 20 years ago, but it may not be a cause for celebration for American farmers.
Grain traders are still unsure of actual planted cropland after USDA dropped planted corn acres estimates by just over 1 million in its June Acreage report Friday. Many traders find that difficult to believe after farmers in the eastern Corn Belt struggled to plant a crop this spring.