President Trump’s trade war against China did not reverse a U.S. decline in manufacturing, economic data show. Administration officials point out nonetheless that the tariffs have succeeded in forcing China to agree to a phase one trade deal.
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The primary significance of the talks is that they occurred at all, said trade experts, given the deepening divides between the two nations.
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One third of companies with global supply chains have moved–or soon will move–their sourcing and manufacturing activities out of China.
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Chinese buying made up roughly 56 percent of all new soybean export sales in the past month. By comparison, Chinese buying made up only 27 percent of U.S. soybean export sales in 2020 through May.
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China’s hog herd is recovering well from African swine fever. The country is expected to accelerate soybean purchases from the U.S. between May and August.
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Trade leaders for U.S. and China stay focused on deal amid global pandemic.
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Executives say they are taking measures that include tying up sources outside China and booking air freight to fly in parts and components from China. One said its company is paying 40 percent more to domestic vendors for components that used to come from China.
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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.
Read moreThe United States wants to conclude a trade deal with the United Kingdom this year.
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President Trump welcomes Chinese officials to D.C. this week to sign the recently negotiated phase-one trade deal with China. Final approval is expected as early as this week on USMCA.
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The state of Wisconsin lost 10 percent of its dairy farms in 2019. In related news, a second major milk producer filed for bankruptcy recently.
Read moreUSDA’s Farm Service Agency has paid out nearly $11 billion in 2019, with Iowa, Illinois, and Minnesota receiving the most.
Read moreA 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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U.S. pork producers see a potential $24.5 billion annual market in China within 10 years if the Trump administration can gain unrestricted trade access after the Asian country’s hog herd has been devastated by disease.
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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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President Trump told reporters Monday that China wants to find common ground in trade negotiations. Kellyanne Conway, a senior adviser to Trump, said a trade deal with China is possible by year’s end. New tariffs are scheduled to take effect Dec. 15.
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It is down to the details in passing USMCA. A coalition to which the Association belongs says the agreement pays unprecedented attention to small businesses and boosts opportunities for ag.
Read moreThe White House has struck a deal with South Korea that offers steadier access to the Korean market for U.S. rice growers.
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The opportunity to fill China’s pork gap with chicken has U.S. poultry executives salivating. China has lifted a ban put in place after the avian flu outbreak in 2015. With the country losing much of its swine herd, it is hungry for protein and importing chicken again.
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President Donald Trump said that the U.S. hasn’t agreed to roll back all tariffs on China, muddying hopes raised by China and even some of the president’s own aides that the U.S. was ready to lift some tariffs to secure a trade deal.
Read moreChinese buyers have “completed deals to buy soybeans and pork of considerable scale.” Negotiators are due to resume talks this month in Washington.
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China newswire Xinhua revealed something interesting. It said Beijing “will allow Chinese businesses to purchase a certain amount of soybeans and pork from the United States.” The word “allow” is key.
Read moreIron-ore prices posted their biggest one-month fall in almost eight years. The price fell 27 percent by the end of August, the most since October 2011.
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U.S. lobster exports to China have fallen off a cliff this year as retaliatory tariffs shift the seafood business north.
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The agreement in principle represents significant opportunities for pork producers. President Trump also predicts stronger markets for corn and wheat.
Read moreU.S. Secretary of Agriculture Sonny Perdue issued the following statement regarding the new trade agreement between the United States and
Read moreThis committee makes recommendations regarding resources for members interested in exporting.
Read moreWhite House economic adviser Larry Kudlow said Friday that the U.S. could reach a trade deal with Japan by the
Read morePresident Donald Trump said Sunday that tariffs on $200 billion of Chinese goods will increase to 25 percent on Friday,
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Senate Finance Chairman Chuck Grassley and five other leading Republican senators went to the White House last week to level
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Canada is threatening new retaliatory tariffs on more U.S. exports if the U.S. tariffs on Canadian steel and aluminum are
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