The U.S. Trade Rep is proposing fees on Chinese-built and operated ships. It comes in an effort to counter its dominance in global shipping.
However, many are concerned it could result in increased transportation costs for U.S. farmers.
American Farm Bureau Economist Danny Munch spoke with RFD-TV’s Suzanne Alexander on what these fees target, how much this would cost U.S. farmers, and additional concerns for producers.
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China is making strategic moves by purchasing more soybeans from Argentina and may soon follow the EU and reopen its market to Brazilian chicken exports.
Farmers should watch for soybean export rebounds with harvest, while corn and wheat shipments remain strong and sorghum demand struggles.
Rollins says the new trade relationship with Taiwan, which is committed to buying a significant amount of U.S. soy, could not come at a better time for farmers facing financial strain.
Higher tariffs may shield some U.S. crops but risk retaliation, lost markets, and higher costs for growers. The WTO disputes highlight the fragile balance between trade policy, farm exports, and input supply chains.
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.
Record U.S. sorghum crop faces weak demand as China slashes imports, while corn farmers warn of rising costs, shrinking margins, and global market pressures.