We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Privacy Terms and Cookie Policy
Shining Light on Farm & Food Policy for 20 Years.
Saturday, September 28, 2024
Chinese importers have already stopped buying U.S. wheat, soybean purchases are expected to drop even further, and the U.S. ag sector is expecting the financial pain to increase exponentially as long as the Trump administration persists in a trade war with China.
The U.S. and China are set to hit each other with tariffs on $34 billion worth of goods Friday and neither side is showing signs of changing course. That’s particularly concerning for the U.S. ag sector, the target of most of the tariffs China is preparing to levy on the U.S., and it has farm groups and lawmakers bracing for the worst.
The multifront trade war erupting on all sides of the U.S., with allies and others alike, is reaching new heights this week. China is preparing to enact $34 billion worth of tariffs on Friday that have U.S. producers of everything from strawberries to beef bracing for a major disruption in exports.
U.S. farmers are already hurting thanks to Mexico’s retaliatory tariffs for U.S. import taxes on steel and aluminum, but the pain is expected to increase sharply in the weeks and months to come.
The top American official in the People’s Republic of China says many of its citizens might admit to the American trade grievances at the heart of a budding trade war.
The Senate is set to debate a popular bipartisan farm bill this week that senators from both parties are eager to pass amid the uncertainty in rural America over President Donald Trump’s trade policy.
Republican and Democratic senators let loose Wednesday with scathing criticism for President Donald Trump’s escalating tariffs and tariff threats that are attracting retaliation from around the globe.
Commerce Secretary Wilbur Ross tried to defend the tariffs at a Senate hearing, but most of the lawmakers appeared not to be swayed.
If history is a guide, there’s little chance Congress will enact a new farm bill this year. Congress hasn’t enacted a farm bill in the same year it was first introduced since 1990, which is what lawmakers are trying to do this year.
China is threatening to retaliate once again against rising U.S. tariffs, but the Asian country has literally run out of U.S. exports to put new taxes on.
RSS
