Jim Wiesemeyer

Jim Wiesemeyer was a Pro Farmer contributor as the Washington Bureau Chief. His columns provided expertise and insight on farm policy, trade policy and Washington politics.

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The White House is considering waiving U.S. gasoline environmental rules aimed at reducing summertime smog, hoping the waiver will combat rising pump prices, Reuters reported.
The U.S.-China trade war began in July 2018 when the Trump administration imposed tariffs on $550 billion worth of Chinese goods. Nearly four years later, the debate remains as to which country actually won.
U.S. diesel prices are the highest ever, with warnings of shortages, especially in the eastern U.S., and the most intensive part of the farming season is still ahead.
USDA’s 2022 food price inflation forecasts are already at a 14-year high with forecasts for consumer food price inflation increased again this month. All food prices now seen rising 5% to 6% vs 4.5% to 5.5% in March.
USDA says the launch of the Emergency Livestock Relief Program (ELRP) will address increases in supplemental feed costs in 2021. Phase 1 of the payments is expected to total $577 million.
President Biden’s USDA FY 2023 budget proposal focuses on climate, conservation and research with $3.8 billion discretionary spending increase for USDA with climate, conservation and clean energy the major focal points.
USDA now expects food price inflation in 2022 to be from 4.5% to 5.5%, compared with 2021, based on the all-food Consumer Price Index. No category shows a potential decline.
Congress returns Monday, but to a very different situation due to Russia’s invasion of Ukraine, which is expected to be one of the key issues President Biden talks about during his State of the Union address.
On Monday the People’s Bank of China also announced a 0.1 percentage point cut to two of its key policy rates. It acted after GDP grew by more than 8% in 2021, but slowed down in the fourth quarter.
Senate leadership’s timeline for the BBB proposal is just before Christmas, according to Majority Leader Chuck Schumer. Centrist Sen. Joe Manchin is calling for a strategic pause for the vote, delaying it into 2022.