China is planning to lift tariffs on U.S. pork and soybeans ahead of high-level talks between the two countries, but it remains unclear how steep the tariff cuts will be, according to U.S. ag groups and Chinese government-run media outlets.
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.
U.S. and Japanese negotiators have reached an “agreement in principle” on a trade deal that would lower Japan’s tariffs on U.S. agricultural commodities and spare Japan from threatened U.S. industrial tariffs, sources — confirming reports out of Japan — tell Agri-Pulse.
China announced Friday it will increase tariffs on $75 billion worth of U.S. agricultural and other goods by 5-10% in retaliation for U.S. plans to hit about $300 billion worth of Chinese exports with new import taxes.
Former Vice President Joe Biden says President Donald Trump’s ongoing trade war with China will be harder on the farm economy than many producers think, pushing some into bankruptcy and stressing related industries.
The trade war with China has gone on longer than most expected, so it was a jolt to the collective system when President Donald Trump said twice in the past two weeks that it might rage on for another year or longer.
The rapid expansion of African Swine Fever (ASF) and increasing vegetable and fruit truck traffic across the U.S.-Mexico border, is causing Congress to consider authorizing more money for Customs and Border Protection Agricultural Specialists at U.S. ports of entry.