We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Privacy Terms and Cookie Policy
Shining Light on Farm & Food Policy for 20 Years.
Saturday, October 19, 2024
Farm groups have grown accustomed over the last few years to having more money to work with for promoting their products overseas, but that abundance could come to an end quickly.
China says it is ready to join the plant biotechnology revolution, opening its fields to the widespread cultivation of genetically modified soybean and corn crops in an effort to bolster domestic production, but it’s unclear if the transformation will benefit U.S. exports.
The Biden administration has so far opted not to enter into traditional, tariff-cutting free trade agreements, and farm groups are now turning to the large field of candidates hoping to be the next president to make the case for new trade deals.
China had no right to hit U.S. exports – including farm commodities - with retaliatory tariffs five years ago in response to U.S. steel and aluminum tariffs, according to a ruling Wednesday by a World Trade Organization dispute panel.
Overall, American agricultural exports have recovered from the trade war with China that began five years ago, but many specialty crops still suffer from Chinese retaliatory tariffs.
There were fears that even though U.S. ag exports to China were rising after the countries agreed to a trade war détente during the Trump administration, the U.S. might never recover its pre-trade war share of China’s imports.
Russia’s threat to pull out of the Black Sea Grain Initiative continues to threaten global supplies of wheat and corn, but China would be one of the biggest losers would be China if that happens.
U.S. trade policy should not be focused on using American might for deals to increase exports, but rather trading access to U.S. markets in return for influence on foreign countries, according to U.S. Trade Representative Katherine Tai.
House Democrats accused Republicans of breaking the debt ceiling agreement by advancing a fiscal 2024 spending bill for USDA and FDA that would cut funding to near FY22 levels while also relying on funding rescissions that have little chance of being enacted.