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.
Brazil’s JBS SA, the world’s largest meatpacking company, said on Tuesday that rising prices for grain, the key raw material for feed, don’t show any hint of cooling off, forcing it to cut other costs.
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.