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Balanced Reporting. Trusted Insights.
Sunday, April 02, 2023
U.S. Trade Representative Katherine Tai rebuffed appeals from senators to begin negotiating trade agreements that would cut tariffs on U.S. agricultural exports.
American pork exporters will have more time to send product to Philippine partners at familiar tariff rates following the December extension of existing duties rather than a potential increase.
India, an international ag trading powerhouse that often comes into friction with the U.S. over tariff and nontariff barriers, is the only Indo-Pacific Economic Framework country out of 14 not participating in the pact’s trade pillar after a major summit held in Los Angeles this week, according to government officials.
President Joe Biden’s effort to amass partners for challenging China is taking shape, and U.S. Trade Representative Katherine Tai is working to rekindle ties with historical allies such as Japan, the European Union and the United Kingdom while forging new bonds with countries such as India and Vietnam.
Vietnam is following through on promises to slash its most-favored nation tariffs on corn, wheat and pork, offering new opportunities for U.S. ag exporters, USDA says.
Farmers, ranchers and ag exporters hoping President Joe Biden will engage Chinese President Xi Jinping Monday evening on trade tariffs or supply chain problems will likely be disappointed. Neither topic is on Biden’s agenda for the virtual meeting, according to a senior White House official who previewed expectations for the conversation to reporters.
U.S. Trade Representative Katherine Tai spoke Friday with her Chinese counterpart to explain U.S. concerns over outstanding issues from the “phase one” trade pact as well as Chinese “state-led, non-market policies and practices that harm American workers, farmers and businesses,” according to the Office of the USTR.
Agriculture Secretary Tom Vilsack is making it increasingly clear that he’s going to make it a priority to challenge the market power of big food processors and ag input suppliers. How far he ultimately goes remains to be seen. But he’s getting plenty of encouragement from both sides of Capitol Hill.
President Joe Biden’s proposal to tax capital gains at death accounts for about one-third of the revenue to pay for his American Families Plan, a sweeping package of education, health and child care benefits. That’s according to an analysis of Biden’s tax proposals by the Tax Foundation.
