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
Market analyst Kevin Huddleston said news of trade deals could rebound cotton prices in late fall, and producers need to be ready to strike deals.
Lewis Williamson, from HTS Commodities, joined us to share insights on the farm economy from producers in the field.
Despite tariffs having a less significant impact on exports, corn producers struggle with tariff-related increases on inputs, which complicates their bottom line.
Prepare for acute UAN risk and a brief urea shock; maintain steady ammonia and phosphate plans, and monitor potash basis on the coasts.
Treasury Secretary Scott Bessent stated this week that the government will intervene to help, following China’s withdrawal from the U.S. soybean market. One trader says the industry will remain in a holding pattern until Tuesday.
