Ag Policy
China announced that it will impose additional tariffs on some American goods in retaliation for the latest increase of U.S. duties on $200 billion of Chinese imports.
President Donald Trump said that the U.S. will boost its purchases of domestic farm products for humanitarian aid in an effort to offset lost demand from China as trade tensions flare between the nations.
Pork exports totaled 211,688 mt in March, down 7% from a year ago, valued at $520.7 million (down 15%). First quarter exports were 6% below last year’s pace in volume and down 14% in value, says USMEF.
As you might expect, markets dove lower on the news, but one analyst says we’re just one more week of delayed planting away from a bullish weather market.
The White House is ramping up pressure to reach a trade deal with China in the next two weeks, warning that the U.S. is prepared to walk away from the negotiations.
Due to export volume already exceeding 130% of the tariff rate quota (TRQ) included in the U.S.-Panama Trade Promotion Agreement, higher tariff rates on U.S. pork were applied April 1 and will remain in effect through the end of this year.
Trips to Washington DC with the National Pork Producers Council (NPPC) and its Pork Leadership Institute (PLI) always offer enlightenment on current issues mixed with a comradery not seen in all industries. This spring’s trip was no exception.
Pork producers are relishing rising pork prices, with lean hog futures skyrocketing since March. Much of that momentum is from China coming back to the market to buy U.S. pork. That’s as products like hams still face major headwinds from tariffs.
Not only are the numbers of hogs produced in the U.S. growing, so are the number of hog operations.
![“I think we're more I think we're down the homestretch [on China],” Randy Russell of the Russell Group told AgriTalk host Chip Flory. “I think if I likened it to running a one-mile race, we're in the last lap, and probably very frankly, headed into the final curve.”](https://assets.farmjournal.com/dims4/default/fd2692e/2147483647/strip/true/crop/539x360+51+0/resize/250x167!/format/webp/quality/90/?url=https%3A%2F%2Ffj-corp-pub.s3.us-east-2.amazonaws.com%2Fs3fs-public%2F91589F42-CC0A-4808-A99E6ED9EC3074E1.jpg)
One analyst says a deal with China is just a month from completion. Meanwhile, politics are the reason for a new snag on the U.S.-Mexico-Canada Agreement ratification.
China could increase U.S. pork imports to the highest ever this year as part of its commitment to bolster purchases of American farm goods to resolve the trade war between the two countries.
China made its largest purchase of U.S. pork in nearly two years last week, according to USDA data released Thursday. Chinese hog prices continue to climb as the country an outbreak of African swine fever (ASF).
USDA’s World Agricultura Supply and Demand Estimates for March increase corn carryout by 100 million bushels.
The U.S. needs to make moving toward a trade pact with Japan an “extraordinary” priority. That’s according to Gregg Doud, the chief agricultural negotiator for the Office of the U.S. Trade Representative.
China has offered to go on a six-year buying spree to ramp up imports from the U.S., in a move that would reconfigure the relationship between the world’s two largest economies.
USDA’s World Agricultura Supply and Demand Estimates for December are little changed from November’s numbers but soybean ending stocks are projected at a record 955 million bushels.
A Southeast Asian nation that was a bit player in the biofuel market is suddenly buying and selling unprecedented supplies. The U.S.-China trade war may have something to do with it.
Two more vessels loaded with U.S. soybeans have departed for China, signaling that buyers may be getting more desperate for supplies amid the prolonged trade war between the nations.
High-level NAFTA negotiations are set to resume in Washington, where Republicans are warning time is running out for Canada to join the U.S. and Mexico in a trilateral deal.
The Trump administration will announce as early as Monday that it’s imposing a 10 percent tariff on $200 billion of Chinese goods, which Beijing has already said it will retaliate against.
Trade associations representing farmers, retailers and manufacturers are joining forces in a new multi-million-dollar campaign to oppose President Donald Trump’s tariffs.
President Donald Trump said he’s ready to impose tariffs on an additional $267 billion in Chinese goods on short notice, on top of a proposed $200 billion that his administration is putting the final touches on.
President Donald Trump said he plans to pursue a trade deal with Mexico and possibly Canada even as talks with the U.S.’s northern neighbor stalled, leaving the future of a revised Nafta in doubt.
President Donald Trump said he would terminate the North American Free Trade Agreement and sign a new trade accord with Mexico, potentially leaving Canada out of the bloc.
President Donald Trump has signed off on a bilateral agreement with Mexico to revamp the North American Free Trade Agreement, and an announcement is expected later on Monday.
The agriculture markets are getting a lift as U.S. trade relations improve with Mexico, one of the largest foreign buyers of American meat and grain.
President Donald Trump said negotiations with Mexico on a new Nafta are “coming along nicely,” while telling Canada it will have to wait to re-enter the talks to modernize the three-nation trade pact.
Typically the trade sees a 4-bu. corn yield variance in the August WASDE report, reports market analysts from Allendale. The soybean market will be heavily influenced by trade factors.
Pres Trump and European Union leaders announced Wednesday they have agreed to work toward “zero tariffs” and “zero subsidies” on non-automobile goods, including buying more US soybeans.
White House economic adviser Larry Kudlow said a plan by the Trump administration to pay $12 billion in relief to U.S. farmers is a stop-gap proposal that “nobody is thrilled about.”