Trade with China: Leaders Stay Focused on Phase One
Trade leaders for U.S. and China stay focused on deal amid global pandemic.
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Trade
U.S., China, Take First Steps After Phase One Deal
The U.S. and China took the first steps last week in implementing a trade deal that ultimately could generate an additional $32 billion in agriculture exports to China.
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USMCA: Success in D.C. Does Not Mean Done Deal
President Trump signed his signature trade deal with Mexico and Canada last week, but the three countries still must meet many of their obligations before the pact can take effect. A former aide to the president has cautioned that the pact may not be in force until 2021.
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Final Round of Trade Aid to Farmers ‘Imminent’
Sonny Perdue told farmers that the final 2019 installment of trade was on the way. In 2020, he expects a robust export market to restore farm incomes.
Read moreIowa, Illinois Surpass Billion-Dollar Mark in Trade Aid
USDA’s Farm Service Agency has paid out nearly $11 billion in 2019, with Iowa, Illinois, and Minnesota receiving the most.
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Done Deal: U.S., China Reach Phase One Agreement
A phase-one trade deal stipulates China buy $200 billion worth of U.S. goods and services, which includes $40 to $50 billion worth of agriculture products.
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Mini Trade Deal with Japan Good for U.S. Meat
Japan will lower or eliminate tariffs on $7.2 billion worth of U.S. farm exports starting Jan. 1. The president of the U.S. Meat Export Federation called it “one of the biggest developments in the history of red meat trade.”
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Ahoy, Soy: Beans Arrive on China’s Shore
American soybeans that were once stranded on ships along China’s coast are now coming ashore. The beans were stranded because although a 30 percent retaliatory tariff had been waived, buyers still had to pay a deposit.
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White House Restores Metals Tariffs in South America
President Donald Trump on Monday said he would restore tariffs on U.S. steel and aluminum imports from Brazil and Argentina. He said the countries have been “presiding over a massive devaluation of their currencies, which is not good for our farmers.”
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China Buys Canadian Wheat During Canola Feud
China has imported 92 percent more Canadian wheat this crop year compared to last. Meanwhile, the countries’ canola spat drags on.
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