The Senate Finance Committee will hold a hearing Thursday to consider the nomination of Katherine Tai to be President Joe Biden’s U.S. Trade Representative and point person on the future of trade relations with China.
U.S. pork exports to China are still very strong, but trade is expected to decline as the Chinese rebuild the country’s swine herd after the devastation of African swine fever. That means that U.S. exporters are going to have to rely more on other markets in coming years.
China is celebrating the signing of what will be the world’s largest trade pact, which includes 15 countries representing 30% of global GDP, pushing international trade to the forefront as President-elect Joe Biden prepares to take office in January.
The U.S. Dairy Export Council is investing big in Southeast Asia as demand for everything from whey to lactose is rising fast and providing new overseas profits for U.S. farmers who are increasingly dependent on exports.
As the spread of COVID-19 in April slowed meat processing facilities and important Latin American trading partners lost purchasing power, U.S. beef exports fell below last year's totals and pork exports grew at a slower rate than in the first quarter.
The U.S. exported record amounts of pork and posted very strong numbers for beef sales around the globe in March, despite the COVID-19 pandemic, according to new USDA data compiled by the U.S. Meat Export Federation.
U.S. soybean exports have been steadfastly weathering the severe impacts of COVID-19 around the world, but the pandemic is impacting foreign customers in waves and new threats continue to manifest as nations around the world work to keep their people fed.