Articles Tagged with ''china''

The USDA reported Monday sales of more than 1 million metric tons of U.S. corn to Chinese buyers. The sale comes on the heels of a USDA report showing a smaller-than-expected U.S. corn crop this year as well as amid the war in Ukraine that has all but cut off Ukrainian exports.

U.S. Trade Representative Katherine Tai continued her defense of a Biden trade agenda that does not so far include traditional free trade agreements with other nations, but several senators strenuously pushed back, arguing that the U.S. is being left behind on the international stage as China pushes forward with new tariff-slashing pacts.

The Biden administration’s proposed Indo Pacific Economic Framework, an effort to strengthen economic ties and improve trading conditions with countries like India, the Philippines and Vietnam, got some praise during a Tuesday Senate hearing, but much of the time was spent discussing what it would not accomplish - new market access for U.S. ag.

The USDA is planning on four more in-person trade missions around the globe this year, including to the UK and Kenya, nations that the Trump administration opened up negotiations with for free trade agreements.

The Biden administration Tuesday rolled out its 2022 Trade Policy Agenda report to Congress, pledging to further develop its Indo-Pacific Strategy – an effort to strengthen ties with the Asian region – as well as continue to reduce trade barriers across the globe and bring new reform pressure on China.

The war in Ukraine may impede the country’s ability to export millions of tons of wheat and corn to China, Saudi Arabia, Indonesia, Turkey and elsewhere, and U.S. grain could be called on to fill the supply gap.

USDA expects U.S. ag exports to hit a new record this year and projects continued strong prices for major commodities this year while acknowledging that Russia's invasion of Ukraine has injected new uncertainty into world markets.

China continues to be a “difficult and unpredictable market for U.S. agricultural exporters” because it flouts international trade standards set by the World Trade Organization, according to a new report to Congress from the Office of the U.S. Trade Representative.

Not even the collapse in demand from China could stop the U.S. pork industry from having a good year for exports in 2021 and strong shipments are expected to carry the industry through another banner year in 2022.

USDA trimmed its forecast for South American soybean production Wednesday, supporting traders’ expectations and a bump in futures prices.