Japan might increase the amount of agriculture trade conducted with the U.S. through potential trade deal that was announced by President Trump following a meeting with Japanese Prime Minister Shinzo Abe.
The U.S. will shield a list of allies including Europe, Australia, South Korea, Argentina and Brazil from steel and aluminum tariffs that take effect on Friday, according to U.S. Trade Representative Robert Lighthizer.
China is continuing to buy U.S. pork. The United States Department of Agriculture (USDA) is reporting weekly export sales for pork at a marketing year high thanks to China. Click on the link to learn more.
The White House announced after the markets closed Thursday that Trump had instructed the Office of the United States Trade Representative to consider whether $100 billion of additional tariffs would be appropriate.
China has been gobbling up the world’s soybeans at breakneck speed over the past decade. But as the trade spat with the U.S. escalates, its imports of the oilseed are set to decline for the first time in 15 years.