NASHVILLE, TENN. (RFD-TV) — There are new details on U.S. action in Venezuela and its impact on American agriculture. President Donald Trump says the South American nation is set to purchase several goods from the U.S. in the coming weeks.
In a post to social media, Trump said Venezuela will buy American ag products and will use the money from oil sales to make it happen.
Earlier this week, the White House said Venezuela will soon turn over between 30 and 50 million barrels of oil, shipping it directly to the U.S. From there, Trump says it will be sold at market price.
Aside from farm products, Venezuela will buy other U.S. goods, too, like medicines, medical devices, and infrastructure equipment.
Related Stories
Lewis Williamson with HTS Commodities discusses late-season planting progress, market fundamentals heading into summer, and the influence of biofuel policy on grain demand.
Tariffs on combines, harvesters, and some farm equipment will be reduced to 15% until 2028.
Corn exports are strengthening the trade outlook, but lower soybean movement and weaker demand from China remain major concerns.
Negotiators are focusing on tariffs, market access, and economic security as broader trade discussions continue.
