Agriculture Secretary Tom Vilsack says he’ll make sure the Treasury Department understands the importance of stepped-up basis to farm groups. Vilsack was pressed about that issue during an appearance Wednesday before the House Ag Appropriations Subcommittee.
The Biden administration is seeking to avoid the practice of creating winners and losers as it tries to expand international trade, Katherine Tai, the nominee to be the next U.S. Trade Representative, told senators Thursday.
U.S. beef exports to Japan have been very good in recent months — maybe too good. The Japanese have imported so much U.S. beef, it’s looking like they will hit a “safeguard trigger” designed to protect domestic producers with a tariff.
It’s official. Georgia Democrat David Scott will chair the House Agriculture Committee next year. The full House conference voted to approve Scott as recommended by the House Democratic steering committee.
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.
Japan, a nation dependent on imports to feed its people, is cutting tariffs and forging stronger ties around the globe to further open up its markets, but not yet with the U.S., leaving American dairy farmers concerned.