It has been a busy week with big shakeups in trade policy, and a lot has taken place over the last 24 hours.
As of right now, President Trump has hit pause, taking all country-specific tariffs down to 10 percent for 90 days, but that does not include China. He raised their tariff rate to 125 percent.
Other nations are already responding to the recent adjustments. Within the last few hours, the European Union announced a pause of their own. It came after the EU voted for new tariffs on U.S. steel and aluminum, which are now on the back burner.
Ag lawmakers say the tariff pause is a win for America, with Louisiana Senator John Kennedy saying he is confident the U.S. and China will soon reach a deal.
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Hunter Biram, an extension economist with the University of Arkansas, is tracking Mississippi River water levels as grain shippers shift their focus to transportation following the wrap-up of fall harvest.
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Tariff relief may soften grocery prices, but it also intensifies competition for U.S. fruit, vegetable, and beef producers as cheaper imports regain market share.
