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Shining Light on Farm & Food Policy for 20 Years.
Monday, January 06, 2025
An agreement 24 years in the making is set to come to fruition as the Brazilian government prepares to implement a tariff rate quota to allow an increase in duty-free wheat imports.
USDA’s World Agricultural Supply and Demand Estimates report fell in line with trade expectations when it lowered corn ending stocks as producers struggle with a challenging harvest.
President Donald Trump and White House officials insist that China will be buying $40 billion to 50 billion worth of U.S. agricultural products annually over the next couple of years, if the countries nail down a trade deal in the coming weeks, but the question is whether U.S. farmers, processors and exporters could meet that challenge.
USDA announced Thursday export sales of 130,000 metric tons of U.S. white wheat for delivery to China, a sale that comes one week ahead of the next round of bilateral trade negotiations.
Japan agreed Wednesday to cut or eliminate tariffs on $7.2 billion worth of U.S. ag commodities and erect new quotas under a trade deal that U.S. President Donald Trump and Japanese Prime Minister Shinzo Abe signed Wednesday.
White House officials are telling the U.S. ag sector that they are going to win big in the miniature trade pact announced on Aug. 25 after Presidents Donald Trump and Shinzo Abe met on the sidelines of the annual G7 summit, but details are either not being divulged or haven’t yet been nailed down, government and industry sources tell Agri-Pulse.
President Donald Trump on Sunday confirmed that the U.S. and Japan have reached a preliminary deal to lower Japanese tariffs and increase market share for U.S. agricultural commodities. The deal, as reported Saturday by Agri-Pulse, is already being lauded as a success for farmers by major U.S. ag groups.
A Japanese delegation is coming to Washington next week to resume negotiations on a free trade agreement, U.S. Trade Representative Robert Lighthizer told Agri-Pulse Friday.
The Agriculture Department overhauled its Market Facilitation Program to broaden the number of farmers that would receive the trade aid, but officials may encounter new grumbling over the wide disparities in county payment rates.
By the end of the year, China is finally expected to implement the quotas for corn, wheat and rice as it agreed to do about 20 years ago, but it may not be a cause for celebration for American farmers.
