With the new administration now in office, all of agriculture is keeping a close eye on the potential for new tariffs and the ripple effects that could result for farmers and the supply chain as a whole.
Virginia Houston with the American Soybean Association spoke with RFD-TV’s own Suzanne Alexander on what we have learned from President Trump’s previous tariffs, the impact of tariffs on Mexico and Canada, and what consumers and producers should keep an eye on.
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President Donald Trump says a deal is nearly done on lowering beef prices, but he has not released details.
Large carryover stocks continue to put pressure on commodity prices, creating uncertainty for growers looking to market their grain.
Peel says Mexico has a much greater capability to expand its beef industry than it did 20 or 30 years ago in terms of its feeding and packing infrastructure.
The impacts of the government shutdown have reached commodity growers with crops to move, ag economists monitoring the harvest without key data reporting, and meat producers in need of new export markets.
In a statement provided to RFD-TV News, a USDA spokesperson reiterated President Trump and the USDA’s commitment to farmers in difficult economic times.
China is not one of our top suppliers of cooking oil, according to USDA ERS data, but does export a lot of used cooking oil to the U.S. for biofuel production.