Trade
Trump taps Howard Lutnick for Commerce Secretary, signaling tariff-heavy trade strategy. Lutnick has called the tariffs a negotiating tool that could be used to convince other countries to bring down their own levies or to force companies to move production to the U.S.
Threats of widespread tariffs and concerns about retaliation continue to stoke uneasiness in agriculture. With a growing trade deficit and hopes the U.S. could re-embark on the Phase One trade deal with China, could the focus back on trade be positive for agriculture?
Financial Times reports say President-elect Donald Trump has asked Robert Lightizer to return as U.S. trade representative.
Financial Times reports say President-elect Donald Trump has asked Robert Lightizer to return as U.S. trade representative.
Trump garnered even stronger support in rural America versus his still robust rural vote in this first administration. That is likely a backlash against the ag policy moves of the Biden/Harris administration that focused on underserved and minority rural citizens.
China braces for continued superpower rivalry regardless of the U.S. election outcome.
As agriculture faces multiple challenges, USDA’s latest net farm income forecast is masking the reality for farmers. While livestock margins have improved for 2024, high input costs and below breakeven prices for row crops means margins could be the worst in nearly 20 years.
Based on a farmer poll and the Ag Economists’ Monthly Monitor, farmers and economists differ on whether Harris or Trump would be better for agriculture, particularly when it comes to trade.
USDA forecasts agricultural exports at $173.5 billion and imports at a record $204 billion for a projected record trade deficit of $30.5 billion.
A coalition of over 270 local, state and federal trade associations signed a letter urging President Biden and the administration to use all of its authorities to get the ports open and get the parties back to the negotiating table.
Union head vows to stay on strike ‘as long as necessary’ as the first strike since 1977 halts the flow of goods, ranging from bananas to beef, pork and poultry to industrial materials, leading to potential shortages and price hikes.
The group of terminal operators and ocean container lines said their new offer would increase wages by nearly 50%, triple employer contributions to union retirement plans, strengthen health care options, and retain the current language around automation and semi-automation.
Biden administration officials are meeting with the United States Maritime Alliance (USMX) to urge good faith negotiations in the ongoing labor dispute with the International Longshoremen’s Association (ILA).
In response to John Deere’s recent announcement about moving some of its production to Mexico, Trump expressed concern about the impact on American workers, stating, “It’s hurting our country. It’s hurting our workers.”
The contract between the International Longshoremen’s Association and the United States Maritime Alliance is set to expire on Sept. 30. Negotiations between the two parties have stalled, raising concerns about a possible strike starting Oct. 1.
The effects are already visible, with declining French barley exports to China and the U.S. struggling to sell corn for the new season.
On the heels of the recent debate, we’d like to know which presidential candidate, Democrat Kamala Harris or Republican Donald Trump, you believe will have a more positive impact on agriculture.
China’s soybean imports reached a record high in August 2024, reflecting significant growth in the country’s demand for the oilseed, but meat imports declined.
Agricultural imports are expected to reach a record $212 billion, up $8 billion from FY 2024. This increase is largely due to rising imports of horticultural products, sugar and tropical products.
USMEF, USDA and Columbian officials met recently to build a better understanding of the U.S. livestock industry and the red meat export market.
The classification would have boosted exports and reduced tariffs on goods from country that is rising supply chain alternative to China.
USMEF is working with USDA and Public Health Information System as well as industry partners to eliminate other barriers for U.S. meat shipments to Canada.
At this week’s Republican National Convention, the GOP confirmed their ticket for the 2024 presidential race while calling for unity in America following the assignation attempt on candidate Donald Trump. Meanwhile, there’s growing pressure among Democrats for President Joe Biden to step away from the race.
Meat Institute opposes proposed modifications to the Section 301 actions and calls for comprehensive trade agreements.
With 30 percent of U.S. pork going overseas, the export market story remains positive. The National Pork Board focuses on current markets, and on building growth in developing ones like Southeast Asia and Africa.
August pork export volume was down 1% from last year at 182,372 mt, while export value fell 3% to $494.1 million.
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.
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.
The outlook for trade has darkened considerably in recent days; a gamble in the trade arena that holds substantial risk for American farmers.
The U.S. Meat Export Federation (USMEF) has prepared an initial assessment of the potential U.S. pork and beef industry losses that could result from Japan’s participation in these agreements.