The U.S.-China trade war could drag on for years, but a U.S. agreement with Mexico on rewriting the North American Free Trade Agreement could happen as soon as August, U.S. Trade Representative Robert Lighthizer said today in a Senate hearing.
Republican and Democratic senators let loose Wednesday with scathing criticism for President Donald Trump’s escalating tariffs and tariff threats that are attracting retaliation from around the globe.
Commerce Secretary Wilbur Ross tried to defend the tariffs at a Senate hearing, but most of the lawmakers appeared not to be swayed.
Cheese will probably be the commodity most directly affected by the tariffs Mexico is imposing on U.S. commodities in response to U.S. levies on steel and aluminum. That’s the gist of a new report by Rabobank dairy analyst Tom Bailey.
The Trump administration’s insistence that Canada agree to add a five-year sunset clause to the North American Free Trade Agreement dashed the potential for a high-level meeting in Washington that could have resulted in a final deal, Canadian Prime Minister Justin Trudeau said on Thursday.
President Donald Trump announced today the U.S. is hitting Canada, Mexico and the European Union with steel and aluminum tariffs, putting the fate of the North American Free Trade Agreement into further uncertainty and exposing U.S. farmers and ranchers to retaliation.
Until recently, the top negotiators for the U.S., Mexico and Canada were working “intensely” to finish up a deal for a new North American Free Trade Agreement, but activity has dwindled to a near standstill and pessimism has replaced those high hopes for a speedy conclusion.
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.
You won’t find any tourists in the muddy, mosquito-ridden town of Barcarena in Brazil’s state of Pará, but you can’t miss the almost constant parade of trucks pulling in and out of port facilities under the scorching sun or torrential rainfall on the country’s northern coast.
Prospects for U.S. farm exports can change suddenly and dramatically. Breaking into foreign markets takes decades of persistent hard work and hefty investments in building infrastructure, relationships and, ultimately, sales.