The Sino-U.S.trade war has pushed the new NAFTA, a pact that Canada, Mexico and the United States back with varying degrees of enthusiasm, into the shadows on Capitol Hill.
A Purdue University gauge of farmer confidence plunged by 18 points, its largest drop since the start of the Sino-U.S. trade war.
Three days ahead of the arrival of a Chinese trade delegation, President Trump said he would impose 25% tariffs on $525 billion of Chinese products as leverage for a resolution of the trade war.
The finalists in Secretary Perdue’s plan to move two research agencies out of D.C. include “multiple” undisclosed sites in Indiana.
Senate Finance chairman Chuck Grassley is working with like-minded senators on crafting a bipartisan bill to limit the president’s power to impose import tariffs in the name of national security.
The so-called Chapter 12 farm bankruptcy rules would be revised by companion bills in Congress that would triple, to $10 million, the amount of debt that could be reorganized.
Small agricultural banks are making adjustments, such as syndicating loans and charging higher interest rates, to offset risk in the face of high demand for farm loans.
U.S. food and ag exports would increase by $2.2 billion with full implementation of the United States-Mexico-Canada Agreement, said the U.S. International Trade Commission Thursday.
More than $3 billion is earmarked for agriculture in bills written by both parties and pending in both chambers.
Agriculture Secretary Sonny Perdue said farmers ought to be considered for federal compensation for grain lost in flooded bins this spring.