China has committed to buy at least $80 billion in U.S. farm products over the next two years and the country also agreed to sweeping structural changes that promise to improve trade on a more permanent basis for U.S. beef, pork, rice, corn, wheat, soybeans and other commodities.
Trade remains the top concern for American agriculture heading into 2020, with looming uncertainty about whether the Chinese will make promised increases in commodity purchases, and whether President Donald Trump will provide another round of trade assistance to U.S. producers.
Federal rules for disclosing biotech food ingredients officially start taking effect Wednesday, but manufacturers and retailers don’t have enough information yet from USDA on how to comply with the regulations, say industry officials.
A congressional agreement to fund the government for fiscal 2020 includes an additional $1.5 billion in disaster relief for farmers and would revive the biodiesel tax credit and extend it through 2022.
China has agreed to purchase $40 billion to $50 billion in U.S. agricultural commodities annually for two years as well as remove significant ag trade barriers, a senior Trump administration official told reporters Friday.
Leaders of the three largest seed and chemical companies say it’s technologically possible to reduce farming’s environmental footprint while feeding a growing global population, but they worry policymakers and regulators will stand in the way.