Trade

RSS

The Trump administration on Monday moved closer to getting a deal for its renegotiated North American Free Trade Agreement as pressure increases from lawmakers and farm groups for a year-end ratification vote.

A proposal for a deal on the U.S.-Mexico-Canada Agreement has been sent to House Speaker Nancy Pelosi after top U.S. and Mexican negotiators met again Saturday in Washington, according to a Bloomberg report.

Two of the highest-level trade officials representing the U.S. and Mexico worked through the day Friday and into the night trying to reach an agreement on the replacement to the North American Free Trade Agreement, but fell short of a deal that both countries could accept.

China is going to lift tariffs to allow in more U.S. soybeans and pork, according to Xinhua News, a government-run media outlet, though it's unclear how much of the U.S. commodities will be allowed in, or for how long.

President Donald Trump’s latest claim that he might push back a trade pact with China until after the 2020 elections has unleashed a new wave of uncertainty for America’s farmers who had been counting on promises that a resolution to the trade war was imminent.

The Trump administration’s trade assistance payments have become so critical to farm profits that some growers could take a hit to their income if the program is discontinued in 2020 because of a trade deal with China.

Japan’s Upper House approved a new trade pact with the U.S. on Wednesday, paving the way for lower tariffs on U.S. beef, almonds, walnuts, sorghum and other agricultural products early next year.

The move puts the nation’s largest beef producer group, which has long been opposed to mandatory country-of-origin labeling, on the side of making sure voluntary COOL declarations are accurate and verifiable.

A U.S.-China trade deal may not be finalized until late next year after the 2020 elections, President Donald Trump told reporters Tuesday during a visit to London.