Chinese and U.S. officials confirm the “ink is dry,” as a new trade deal has officially been signed. The news came during a White House event last night.
Commerce Secretary Howard Lutnick says the deal was reached earlier this week and is based on earlier trade talks in London. It codifies those terms and includes a commitment from China to send rare earth materials to the United States. Lutnick also told reporters that the U.S. would lift countermeasures but only once the minerals are delivered.
This deal did not mention any specific agricultural products, but officials say they will remain in close contact.
Related Stories
USMEF CEO Dan Halstrom joined us on Monday’s Market Day Report for his analysis on the U.S.-Taiwan trade agreement, which includes big bucks for U.S. Beef.
Farmers await concrete trade commitments from China. Until then, export prospects for soybeans, corn, and sorghum remain uncertain against strong South American competition.
National Sorghum Producers CEO Tim Lust said farmers face a challenging year with strong supply, murky trade conditions, and uncertain access to their largest market: China.
U.S. trade talks with China resume, but meat industry leaders say dealing with shifting demand and market uncertainty is nothing new in this side of the ag sector.
Tariffs are pushing up input costs, with fertilizer prices rising $100 per ton and machinery costs climbing due to steel and parts duties.
American Soybean Association President Caleb Ragland joins us to share his reaction to September’s WASDE and discuss the trade uncertainty between China and his industry.
China has been largely absent from U.S. markets lately, but not when it comes to cotton. It’s a buy that, traders say, isn’t surprising given China’s limitations.
The September WASDE report comes out on Friday at Noon ET. As always, we’ll bring you those numbers right here on Market Day Report along with our expert
