Trade

The U.S. military, under orders from President Donald Trump, says it will resume a blockade on Iran in the Strait of Hormuz on Tuesday. The move, along with Trump saying the U.S. will charge other vessels a 20% toll for safe passage, further casts doubt on the interim peace deal between Washington and Tehran. 

 Renewed hostilities between Iran and the U.S. have effectively brought traffic through the Strait of Hormuz “to a halt,” Lloyds List Intelligence said late Thursday. The U.S. exported $4.7 billion in agricultural products to Vietnam in 2025, making the U.S. the second largest agriculture supplier to the country, according to a July 9 report released by the USDA’s Foreign Agricultural Service.

President Donald Trump has ordered Treasury Secretary Scott Bessent to cut off all trade with Spain despite an upward trend of U.S. agricultural exports to the country. Sen. Chuck Grassley, R-Iowa, says Congress needs to move on legislation to allow voluntary, year-round sales of higher ethanol fuel blends, known as E15, before lawmakers adjourn for five weeks starting in early October.

Agriculture industry experts at a hearing urged the Trump administration to adjust its list of food and drink products exempt from possible levies on 60 nations for allegedly using forced labor. 

China made its biggest one-day purchase of U.S. soybeans since January amid expectations that trade relations between Washington and Beijing will continue to improve. 

USDA Undersecretary for Trade and Foreign Agricultural Affairs Luke Lindberg says trading partners have begun implementing the trade deals made with the Trump administration as the agricultural trade deficit continues to fall.

A new report from the National Corn Growers Association shows U.S. farmers are paying much more for farm inputs like seeds and pesticides than their biggest rivals in Brazil. 

The Office of the U.S. Trade Representative heard testimony Monday on its proposal to exempt beef from a proposed 25% tariff on Brazilian imports as part of the Trump administration’s goal to reduce prices.