Trade

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The Agriculture Department projects that the U.S. agricultural trade deficit will widen this fiscal year to $45.5 billion, an increase on the previous estimate as imports grow faster than expected.

President-elect Donald Trump on Monday said he will sign a series of executive orders on his first day in office to impose new duties on imports from Canada, Mexico and China over what he characterized as their inaction on border security and fentanyl smuggling. 

Mexican President Claudia Sheinbaum touted efforts to substitute Chinese imports with locally produced alternatives and downplayed comments from Canadian policymakers that raised questions over Mexico’s future in a North American trade pact.

President-elect Donald Trump has picked hedge fund manager and Scott Bessent as his Treasury Secretary nominee, prompting criticism from Senate Finance Democrats of "rich political donor" potentially helming the department. 

Agri-Pulse’s Lydia Johnson caught up with California Rep. Jim Costa Thursday night to talk about his challenge to Georgia Rep. David Scott for the top Democratic slot on the House Ag Committee. Costa repeatedly stressed that he could be a “strong voice” for the minority.

A raft of new trade and development deals inked by the Chinese and Brazilian governments on Wednesday, including agreements to boost several agriculture exports, indicates that Beijing is preparing for a Trump presidency, according to analysts. 

The chairman and CEO of Deere and Company, which has been the target of tariff threats by President-elect Donald Trump, touted his company’s long history of manufacturing farm equipment in the United States and exporting it to other countries on an earnings call Thursday.

China is ending an export tax rebate for used cooking oil, a common feedstock for renewable diesel, in a move analysts say could spur higher prices and prompt U.S. biofuel producers to explore other oil sources.

Wall Street veteran Howard Lutnick, an outspoken proponent of President-elect Donald Trump's tariff policy, has been picked to head the Commerce Department and take a leading role in the incoming administration's trade policy.

Most Mexican consumers who are familiar with their government’s ban on biotech corn for human consumption support the restriction and are willing to pay significantly higher prices for non-GMO foods, according to a study by University of Arkansas economists.