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Shining Light on Farm & Food Policy for 20 Years.
Saturday, November 09, 2024
China is celebrating the signing of what will be the world’s largest trade pact, which includes 15 countries representing 30% of global GDP, pushing international trade to the forefront as President-elect Joe Biden prepares to take office in January.
China is again promising that it has made structural changes to its tariff rate quota system to import corn, wheat and rice, but it’s still not clear if that’s the case as the new deadline approaches for the U.S. to tell the World Trade Organization if it agrees.
The Trump administration is claiming success in the “phase one” trade deal with China with a new report released less than two weeks before the presidential election.
Brazilian President Jair Bolsonaro and U.S. President Donald Trump are both keen on strengthening the ties between their respective countries, but a comprehensive trade pact isn’t likely in the near future because of Democratic opposition, says U.S. Trade Representative Robert Lighthizer.
The U.S. and Brazil have not yet reached a deal on U.S. demands to be able to sell the country more ethanol, but the Brazilian government is making clear what it is demanding in return, according to sources in both countries. Brazil wants more access to the lucrative and tightly guarded U.S. sugar market.
With airlines threatening to lay off thousands of workers, this week could be pivotal if there is going to be a pre-election deal on another major coronavirus relief package.
U.S. Trade Representative Robert Lighthizer recently called the World Trade Organization “a mess,” but some of the largest U.S. agricultural groups and companies are speaking out in a new letter to stress the importance of the WTO to American farmers.
South Korea, in a deal struck with the Trump administration last November, agreed to buy at least 132,304 metric tons of U.S. rice annually and the country is getting close to meeting that promise for 2020, according to U.S. government and industry officials.
A World Trade Organization panel ruled Tuesday that the U.S. broke its international commitments by circumventing the WTO dispute system and hitting China in 2018 with tariffs on $234 billion worth of its goods.
