China is one of the biggest importers of American breeding pigs and other livestock genetic material such as cattle semen. These lucrative niche export markets had been growing, but have dried up since the start of the U.S.-China trade war.
JBS global CEO says the impact on JBS operations from the global tariff war have been “insignificant” so far, with a nearly 78% annual increase in net profit driven by its poultry and pork businesses in Brazil and the U.S.
Accounting for about 15% of USDA’s total workforce and representing FSA, NRCS, FSIS, APHIS and other departments, 3,877 staff signed contracts in February for the first deferred resignation program and 11,305 in the second round in April.
The sales disruption shows how the tariff war escalated by President Donald Trump is upending global trade and forcing changes at a prominent food company that pays U.S. farmers to raise hogs.
The pork buyers’ attorneys on Tuesday in a court filing asked U.S. District Judge John Tunheim in Minnesota to preliminarily approve the three new settlements in the class action.
Ocean shipping transports about 80% of global trade — from coal and corn to bananas and cement. The revisions tackle major concerns from the global maritime industry that feared virtually every cargo carrier could face steep, stacking fees.
The U.S. listing, which has been in the works for years, would provide access to a broader pool of investors and possibly aid JBS in raising its valuation closer to its industry peers.
Although vague, Trump’s comments during his Cabinet meeting are the most detailed the administration has provided on the fate of farmworkers without legal status — who make up half the farm sector’s workforce — under his plan for mass deportations.
