The successful renegotiation of the North American Free Trade Agreement could turn out to be a hollow victory for some of the largest U.S. cheese companies if the Trump administration doesn’t pull back its steel and aluminum tariffs on Mexico.
The president revealed this week he has no intention of backing off the use of tariffs – not even with allies Mexico and Canada, who are retaliating with tariffs of their own on billions of dollars of U.S. agricultural goods.
President Donald Trump and European Commission President Jean-Claude Juncker agreed to new negotiations today aimed at ending the trade war in a deal that would somehow result in Europeans buying more U.S. soybeans.
U.S. and South Korean negotiators have reached a preliminary agreement to preserve the six-year-old free trade pact between the two countries that has been very lucrative for U.S. agricultural exports, say Trump administration officials.
President Donald Trump today signed off on a plan to punish China for years of stealing intellectual property by imposing about $60 billion worth of tariffs on Chinese goods. The move came despite a growing chorus of warnings from Capitol Hill and farm groups that China will retaliate by taxing or blocking U.S. agricultural goods.
The U.S. ag sector, already reeling from depressed prices, understands the White House’s desire to punish trade abuses by countries like China, but there is a growing fear that President Donald Trump’s aggressive tactics and rhetoric are threatening overseas markets, according to farm and trade officials speaking today at an Agri-Pulse forum.
The European Union, Brazil, South Korea, Japan and other steel and aluminum exporters are scrambling to try and get exemptions to President Donald Trump’s tariffs, while much of the U.S. ag sector is worried they’ll be harmed by a backlash.
USDA chief Sonny Perdue today came out in support of President Donald Trump’s trade policy tactics in proposing steep tariffs on steel and aluminum imports, but also stressed that the U.S. ag sector is rightfully concerned that it could suffer from foreign retaliation.