Competition with China was front and center at a Senate hearing on the Panama Canal.
The Chair of the Federal Maritime Commission told lawmakers China’s grip has been around for some time.
“It’s a problem that has been going on for 20 years, which makes it very difficult to answer your question. It is a long answer. This is not a problem that occurred last week. This is not something that President Trump identified, this was going on all President Biden’s term, but of all of President Trump’s first term. It has been going on for decades and decades through both U.S. Republicans and Democrats as President. The only thing I can say is I echo was Ranking Member Cantell said, and I think others of both parties have echoed it, that we need some sort of overall maritime strategy. We have to acknowledge that this is part of our national security,” said Daniel B. Maffei.
During the hearing, Texas Senator Ted Cruz emphasized that China’s influence on the Canal is a national security risk. They also discussed shipping fees and ways to minimize the impact on American businesses.
While this month’s WASDE report will not include updated figures on U.S. crop size, officials say it will offer a clearer picture of crop conditions in the Southern Hemisphere.
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USTR Jamieson Greer signals a narrower trade deal with China, adding more market uncertainty. The Farm Bureau also supports reviewing China’s missed trade commitments under the Phase One.
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American soybean and corn leaders, along with Canada’s AgriFood sector, testified before the U.S. Trade Representative’s Office in support of the trade pact between the U.S., Mexico, and Canada.
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The FAO Food Price Index for November fell by more than 1 percent in November, marking the third straight month of declines.
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Texas livestock producers face a heightened biosecurity threat as New World screwworm detections in northern Mexico coincide with FDA approval of the first topical treatment.
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Higher ocean freight raises export costs just as global grain competition intensifies.
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