Both the U.S. and China have announced a temporary pause in tariffs for the next 90 days, and the deal is moving markets.
The announcement comes after a weekend of meetings in Switzerland, the Treasury Secretary, and the U.S. Trade Representative. China will reduce its tariffs from 125 percent to 10 percent. In return, the U.S. will lower tariffs on most Chinese goods from 145 percent to 30 percent.
The DOW, S&P, and NASDAQ futures are all up significantly this morning.
Related Stories
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.
Higher ocean freight raises export costs just as global grain competition intensifies.
Buying a real Christmas tree directly supports U.S. farmers facing rising import competition, long production cycles, and weather-driven risks.
WTO gauges point to agricultural raw materials trade growing more slowly than overall goods, reinforcing the need to manage export risk and monitor policy shifts closely.
While the agriculture industry hoped details on proposed “bridge” payments for farmers would be released this week, Ag Secretary Brook Rollins said the USDA is still working with the White House on the finer points.
China’s renewed purchases signal improving sorghum demand at a time when export markets are otherwise uneven. Meanwhile, agriculture groups across the U.S, Canada, and Mexico want to protect close trade relations.
