Trade
House Democrats plan a vote next week on the U.S.-Mexico-Canada free-trade agreement.
Economist Dermot Hayes says U.S. producers have lost $2.2 billion on an annualized basis due to events leading up to and following China’s 25% punitive tariffs in retaliation for U.S. tariffs on aluminum and steel.
Exclusive from Reuters: China has ramped up inspections of pork shipped from the U.S., the latest American product to be hit by a potentially costly slowdown at Chinese ports in the past couple of weeks.
A professor at Virginia Tech University says the U.S. should try to get the best trade deal with China that it can, but it should be wary of the potential consequences.
President Donald Trump said he may prioritize a bilateral trade deal with Mexico over Canada and that he’s building a good rapport with Mexican President-elect Andres Manuel Lopez Obrador.
The pork industry appears to be headed for a period of large losses in which excess pork supplies force prices below costs of production, says Chris Hurt, Purdue University agricultural economist.
Bob Utterback of Utterback Marketing and Doug Werling of Bower Trading hash it out with U.S. Farm Report host Tyne Morgan on this week’s Markets Now.
The outlook for trade has darkened considerably in recent days; a gamble in the trade arena that holds substantial risk for American farmers.
The Trump administration announced Friday it is moving forward on slapping tariffs on imported goods for China as the trade fight widens.
After a record performance in 2017, U.S. pork exports to Central America, South America and the Dominican Republic have continued to gain momentum this year.
Ag Secretary Sonny Perdue is vocal the Trump administration is leaning towards potentially drifting away from the trilateral North American Free Trade Agreement and heading toward two separate bilateral agreements.
News outlets reporting China proposed to buy roughly $70 billion worth of U.S. ag and energy products if the US lifts its tariffs. However, some in the administration say the number is flawed.
April pork export volume was 230,049 metric tons (mt), up 13% from a year ago and topping the previous high set in November 2016.
Mexico’s chief NAFTA negotiator and Canada’s top agricultural official say their countries remain committed to completing the North American Free Trade Agreement renegotiations.
It is beginning to look like the most severe part of the fear-based reaction to tariffs is easing, as negotiators for the U.S. and Mexico near a new deal. But you can’t just stop trade without hurt on all sides.
Included in the tariff relief package was additional support for the Agricultural Trade Promotion Program.
While Colombia’s domestic pork production has been steadily growing in recent years, it cannot keep with the rapid growth in consumption - which creates excellent opportunities for the U.S. industry.
USMEF opened its annual conference with a status report on the current state of U.S. beef, pork and lamb exports, followed by a discussion of trade policy issues shaping the outlook for exports in 2019 and beyond.
The U.S. and Phillippines have made good progress on several key trade issues of specific interest to the U.S. red meat industry.
After recent seminar with Mexican meat industry officials, USMEF says education of inspectors is key to keeping meat trade open with Mexico.
August pork export volume was down 1% from last year at 182,372 mt, while export value fell 3% to $494.1 million.
USDA reports live hog prices in January and February averaged below $40 for the first time in over a decade, says Chris Hurt, Purdue University.
The U.S. is well positioned to help fill any additional need that China has for pork, said Joe Schuele, U.S. Meat Export Federation, “but we’d be in a lot better position if we weren’t facing a tariff that’s five times higher than everybody else.”
African swine fever has now spread to all parts of China.
For several weeks, farmers have been debating amongst each other the virtue of taking a Market Facilitation Program payment.
Trump abruptly escalated his trade war with China
USDA on Thursday provided more details on the 2019 Market Facilitation Program. We compiled answers to frequently asked questions.
Pork exports in May were steady with last year’s pace, while value increased 1% to $567.8 million – the highest monthly value total since April 2018.
At the Latin American Product Showcase, more than 60 USMEF exporting member companies participated, displaying and promoting U.S. beef, pork and lamb products. The event attracted more than 190 buyers from 23 countries.
Taiwan is a rapidly growing market for U.S. pork and beef—