The ag sector is keeping a close eye on potential port fees targeting Chinese-built ships. While it aims to strengthen the administration’s “America first” trade agenda, many are concerned it could result in increased costs for U.S. farmers.
CEO of the World Shipping Council, Joe Kramek spoke with RFD-TV’s own Suzanne Alexander on testifying at the USTR hearing, ripple effects on farm exports, and what this will mean for the ag economy.
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New duty-free phosphate imports from Morocco are expected to boost fertilizer supplies and lower costs for U.S. farmers as USDA estimates prices could fall by as much as 22 percent.
Farm groups welcomed the withdrawal of a proposed glyphosate import duty, saying it helps keep input costs lower as new research and a Supreme Court ruling keep the herbicide in the spotlight.
New crop soybean sales were driven by China, while corn and cotton exports weakened.
Corn and soybean export prices declined in June while fertilizer and machinery costs remained elevated.
ASA President Scott Metzger says soybean growers remain focused on trade, the Farm Bill, renewable fuels, and market stability as Congress weighs additional assistance for farmers and export opportunities.
RealAg Radio host Shaun Haney discusses what the exemptions could mean for U.S. agriculture and global trade.