Trade
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.
Strategies for promoting underutilized beef and pork cuts in the international market was the focus of discussions during the USMEF spring conference.
Joint statement unites cattlemen across North America to promote efficient cattle production and encourage governments to provide science-based oversight of beef imports.
During a discussion on AgriTalk, the Senator said he supports free trade and believes that tariffs can create more problems instead of solutions. He also was less than enthusiastic about the GREET Model.
From drought issues posing problems in the Panama Canal to growing tensions and attacks in the Red Sea, it’s causing freight rates to skyrocket and ongoing delays in shipping products around the globe.
While the U.S. and EU aim to make progress during an upcoming summit, reaching a final agreement is uncertain. This issue has significant implications for U.S./EU ties, climate goals, and geopolitics.
As brent crude futures soar toward $100, it’s creating a new battle in the Federal Reserve’s effort to fight inflation. One money manager warns another rate hike is likely.
China’s GDP growth could possibly drop lower than the U.S. this year. In fact, fewer and fewer sectors are healthy, and only then by direct government intervention.
USDA on Thursday lowered expectations for both ag exports and imports in FY 2023. The export decline is linked to corn and wheat, while the import decline is correlated with easing prices.
“Mexico’s decree, which runs counter to scientific findings and is in direct violation of USMCA, is negatively impacting American corn growers,” said Tom Haag, NCGA president.
The July Ag Economists’ Monthly Monitor showed several key changes from June including a bigger cut to corn and soybean yields, a drop in corn and soybean prices and more bullish cattle and hog prices.
The leaders also drafted a proposed legislation earlier this month that promises treaty-like benefits for businesses seeking cross-border investment opportunities via the tax code.
This slump, deeper than May’s 7.5% drop, represents the largest decline since February 2020.
During a bilateral meeting on Thursday, U.S. Trade Representative Katherine Tai discussed with Mexico’s Secretary of Economy Tatiana Clouthier various issues concerning energy and biotech corn.
Representatives from the U.S., Mexico and Canada will meet in Cancun, Mexico this week to discuss a series of disputes, including Mexican energy and biotech policies and Canadian dairy barriers.
Beijing on Monday announced export controls on gallium and germanium. Now the Biden administration is set to restrict Chinese companies’ access to U.S. cloud-computing services that use AI chips.
The Ag Economists’ Monthly Monitor is a new survey of nearly 50 economists. Most ag economists agree the next 12 months could produce more financial pressure for agriculture, but their views vary depending on commodity.
Over the 29 years of free trade, U.S. ag exports to Mexico increased both in terms of volume and value, although there were some years where growth was not positive.
China’s exports to Russia reached a record high in April, amounting to $9.6 billion.
“If California were to win this Supreme Court case, there’s nothing stopping the state from saying, for example, you can only sell corn in California if it’s harvested with an electric combine,” says Dillard.
Exports rose 2.1% in March from the prior month to a seasonally adjusted $256.2 billion while imports declined 0.3% to $320.4 billion, the Commerce Department said.
Currently, foreign meat that is processed in U.S. plants can be labeled “Product of USA.” Arun Alexander, Canada’s deputy ambassador, isn’t convinced this is a good practice.
Non-tariff barriers “are real and can be more significant hurdles than tariffs,” U.S. Trade Representative Katherine Tai says.
While Tai has faced strong criticism about a lack of new trade agreements being pursued, she claimed this week that the U.S. is “nearing a consensus on the need to do things differently.”
Former President Donald Trump placed tariffs on more than $300 billion in Chinese goods during his presidency, raising costs for American companies, according to the ITC.
“It would be a lost opportunity if we just sit on the sidelines and watch other countries engage while the playing field continues to tilt against us,” said Rep. Smith (R-Neb.).
“In this current situation, the traditional approach to free trade agreements — which isn’t just tariff cuts, but that they do tariff cuts on a fully comprehensive basis — isn’t what we need right now,” Tai says.
The 2018 farm bill was stamped with a $428 billon price tag when passed. With the bill set to expire on Sept. 30, here’s a breakdown of the topics ag groups look to push on the negotiating table.
The Senate on Wednesday confirmed Alexis Taylor for Under Secretary of Agriculture for Trade and Foreign Agricultural Affairs. According to Taylor, her priorities include addressing export markets and food insecurity.