December 4, 2018
NASHVILLE, Tenn (RFD-TV) President Donald Trump and Chinese President Xi appear to have reached a trade truce during the recent G20 Summit in Buenos Aires. Although final terms are still being discussed, leaders remain optimistic China will follow through on their commitment to negotiate.
National Economic Council Director Larry Kudlow tells Fox Business News that he expects China to “roll back” agriculture tariffs soon. Kudlow said that, even though talks to end the trade war before have failed, he believes this time will be different.
Trade with Japan, another Asian nation, draws attention from the U.S. farm sector. The National Corn Growers Association (NCGA) recently submitted negotiating objectives for a U.S.-Japan Free Trade Agreement. The country is the second largest market for U.S. corn exports. According to NCGA, their top priorities for negotiations include gaining market access for corn and corn co-products and for officials to address other non-tariff trade barriers.
The North American Meat Institute calls the U.S.-Japan talks “imperative” to the U.S. meat industry and wants to see Japan’s safeguard provisions ended. Both groups agree sanitary and phytosanitary issues must be addressed in the negotiations. U.S.-Japan talks are expected to get underway next year.