Later today, President Trump will meet with his Panamanian counterpart to discuss the Panama Canal.
We could get some clarity after a week of back-and-forth between the two countries.
“We’re going to meet with Panama on Friday about 3:30 in the afternoon by phone,” said Pres. Trump. “And maybe they’ll be some representatives that, you know, here or there, but we’re going to be talking to Panama on Friday, essentially, and they’ve agreed to certain things, but I’m not happy with it.”
Secretary of State Marco Rubio traveled to Panama on his first trip abroad.
This week, he announced that the country would eliminate fees on U.S. government ships. However, Panama’s President said that was not true and accused the U.S. of spreading lies. Rubio walked back his claim but did say that Panama is expected to eliminate the fees.
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.
Renewable Fuels Association CEO Geoff Cooper discusses record public support for year-round E15, congressional legislation, the Renewable Fuel Standard, 45Z guidance, and ethanol trade with Brazil.
For producers who depend on overseas markets, the lack of progress leaves uncertainty over future trade policies.
Several agricultural products will remain exempt from the new duties, including certain beef products, coffee, bananas, nuts, and seeds, along with other products considered important to U.S. supply chains.
President Trump’s address is scheduled for 9 p.m. Eastern. Markets will be watching for any announcements that could influence trade, foreign policy, energy markets, or other issues affecting the agricultural economy.
Global apparel production is shifting, but the expected boost for North American cotton manufacturing has yet to materialize.
