China is planning to lift tariffs on U.S. pork and soybeans ahead of high-level talks between the two countries, but it remains unclear how steep the tariff cuts will be, according to U.S. ag groups and Chinese government-run media outlets.
House Democrats are poring over a letter from U.S. Trade Representative Robert Lighthizer on proposed fixes for the U.S.-Mexico-Canada Agreement, and House Ways and Means Committee Chairman Richard Neal said Thursday he’s preparing a response to send back Thursday or Friday.
USDA’s National Agricultural Statistics Service lowered its production estimates for corn, soybeans and cotton, bumping corn down to 13.8 billion bushels and soybeans to 3.63 billion bushels, which each represent 1% declines from the August estimate.
The Democratic presidential candidates are rallying around a carbon tax as a central solution to climate change, but putting the idea into law will mean overcoming concerns of farm groups about the tax’s intended goal - raising the cost of fossil fuels.
The trade war between the U.S. and China could go on for months or years, according to erratic statements from the White House, but for the first time in weeks, there is renewed optimism because China has agreed to new negotiations.