Reuters’ Gram Slattery reported Sunday that “President-elect Donald Trump threatened to reassert U.S. control over the Panama Canal on Sunday, accusing Panama of charging excessive rates to use the Central American passage and drawing a sharp rebuke from Panamanian President Jose Raul Mulino.” “Speaking to a crowd of supporters in Arizona, Trump also said he […]
Trade
US Wins GMO Corn Dispute with Mexico
Bloomberg’s Michael Hirtzer reported this past Friday that “the US has prevailed in its dispute with Mexico over genetically modified corn that threatened shipments to America’s top customer of the grain.” “An arbitration panel under the USMCA trade agreement issued its final ruling agreeing with the US that Mexico’s efforts to halt imports of GMO […]
Trump Picks ‘China Hawk’ Jamieson Greer as Trade Rep
Politico’s Doug Palmer, Betsy Woodruff Swan and Ari Hawkins reported that “President-elect Donald Trump picked Jamieson Greer to be U.S. trade representative, elevating a figure little known outside of Washington to what is expected to be one of the most important posts in the incoming administration.” “Greer, a former Air Force lawyer turned trade litigator, […]
Mexico Suggests Retaliatory Tariffs After Trump Threat
The Associated Press reported Tuesday that “President Claudia Sheinbaum suggested Tuesday that Mexico could retaliate with tariffs of its own, after U.S. President-elect Donald Trump threatened to impose 25% import duties on Mexican goods if the country doesn’t stop the flow of drugs and migrants across the border.” “Sheinbaum said she was willing to engage […]
Trump Promises 25% Tariff on Canada and Mexico
Reuters reported Monday evening that “U.S. President-elect Donald Trump said on Monday that on his first day in office he would impose a 25% tariff on all products from Mexico and Canada, and an additional 10% tariff on goods from China, citing concerns over illegal immigration and the trade of illicit drugs.” “‘On January 20th, […]
Trump Commerce Pick Increases Concerns of China Trade War
AgWeb’s Jim Wiesemeyer reported Wednesday that “President-elect Donald Trump’s selection of Howard Lutnick, the CEO of Cantor Fitzgerald, as Commerce Secretary highlights plans to leverage tariffs in trade negotiations, with Lutnick emphasizing their use as both a revenue source and bargaining tool.” “Lutnick has called the tariffs a negotiating tool that could be used to […]
Ag Producers Bracing for Potential China Trade War
Reuters’ Casey Hall, Brenda Goh and Mei Mei Chu reported last week that “U.S. agriculture producers are bracing for the prospect of a fresh trade war under U.S. President-elect Donald Trump again hitting exports of farm goods to China, but they said while any new tariffs would hurt, they felt better prepared.” “China is the […]
New US-China Trade War Could Cost Farmers Billions
United States corn and soybean farmers could lose billions of dollars in annual production value in the event of a potential new tariff-induced US-China trade war, according to a new economic study commissioned by the American Soybean Association and the National Corn Growers Association and conducted by the World Agricultural Economic and Environmental Services. The […]
Ag Economists Say Both Presidential Candidates Bad for Trade
A majority of agriculture economists surveyed in the September Ag Economists Monthly Monitor say that both Kamala Harris and Donald Trump would hurt trade in the United States as president. Of the 70 ag economists surveyed for the Monthly Monitor, 86% say a Trump administration would hurt United States trade, while 55% say a Harris […]
Ukraine Ag Sector War Losses Could Top $80 Billion
Reuters reported at the beginning of October that “indirect losses in Ukraine’s key agricultural sector caused by the Russian invasion could reach $83 billion by the end of 2025, mainly due to falling harvests, the Kyiv School of Economics (KSE) said on Thursday. Ukraine is a global major grower and exporter of grain, vegetable oils […]
East & Gulf Coast Port Strike Ends
Reuters’ Doyinsola Oladipo and David Shepardson reported late Thursday that “U.S. dock workers and port operators reached a tentative deal that will immediately end a crippling three-day strike that has shut down shipping on the U.S. East Coast and Gulf Coast, the two sides said Thursday.” “The tentative agreement is for a wage hike of […]
Dockworkers Begin Strike at East and Gulf Coast Ports
The Associated Press’ Tom Krisher and Tassanee Vejpongsa reported early Tuesday morning that “dockworkers at ports from Maine to Texas began walking picket lines early Tuesday in a strike over wages and automation that could reignite inflation and cause shortages of goods if it goes on more than a few weeks.” “The contract between the […]
US Port Strike Could Affect Ag Shipping
The Financial Times’ Taylor Nicole Rogers reported Sunday that “businesses are bracing for a strike at three dozen US ports that could upend supply chains and raise prices just weeks before election day.” “The International Longshoremen’s Association says its 25,000 members will walk off the job if the union does not come to a new […]
Panama Canal Increasing Ship Traffic After Drought
Bloomberg’s Michael D McDonald reported on Tuesday that “the Panama Canal is lifting restrictions that caused a global shipping bottleneck as water levels normalize after a severe drought.” “The Panama Canal Authority increased the draft in the waterway to a maximum 50 feet and will allow 36 vessels a day to transit after recent rains […]
US Ag Trade Deficit Projected to Top $42 Billion
FERN’s Ag Insider reported earlier this week that “the U.S. food and ag trade deficit will soar to a record $42.5 billion in the fiscal year opening on Oct. 1, fueled by steadily growing consumer demand for imported fresh produce, alcohol, coffee, and sugar, said USDA economists on Tuesday. It would be the third year […]
Canadian Government Orders Arbitration to End Rail Stoppage
The Associated Press’s Rob Gillies and Josh Funk reported Thursday evening that “freight trains in Canada could be running again within days after the government forced the country’s two major railroads into arbitration with their labor union Thursday, a move aimed at averting potentially dire economic consequences across the country and in the U.S. if […]
Canadian Rail Stoppage Looms This Week
The Associated Press’ Tom Krisher reported this past weekend that “Canada’s two largest railroads are starting to shut down their shipping networks as a labor dispute with the Teamsters union threatens to cause lockouts or strikes that would disrupt cross-border trade with the U.S.” “Both the Canadian Pacific Kansas City and Canadian National railroads, which […]
US Renewable Diesel Imports Up 29% This Year
FERN’s Ag Insider reported Monday that “the United States imported near-record volumes of renewable diesel fuel in each of the first five months of this year, averaging 30,000 barrels a day, said the Energy Information Administration (EIA). The imports, which were 29% higher than in the same period in 2023, came from one producer, Neste, […]
EPA Investigating Used Cooking Oil Import Authenticity
Reuters’ Leah Douglas reported Wednesday that “the U.S. Environmental Protection Agency has launched investigations into the supply chains of at least two renewable fuel producers amid industry concerns that some may be using fraudulent feedstocks for biodiesel to secure lucrative government subsidies.” “EPA spokesperson Jeffrey Landis told Reuters that the agency has launched audits over […]
Brazil Tax Change Could Make US Soybeans More Attractive
Bloomberg’s Clarice Couto reported this past Friday that “a surprising tax change in agriculture powerhouse Brazil has the potential to make soy grown in the world’s largest bean exporter less competitive with supplies from the US, according to a report from risk management firm Amius Ltd. The provisional measure, signed Tuesday by President Luiz Inacio […]