Trade
British Prime Minister Liz Truss and President Biden agree a U.S./U.K. trade deal is a low priority. However, the U.K. might lean on the U.S. more in coming weeks as many countries prepare to ban Russian oil.
Widespread railroad disruptions could choke supplies of food and fuel, spawn transportation chaos, stoke inflation and cause $2 billion per day in lost economic output.
Empty dinner plates can quickly translate to lack of world peace. Just ask Sen. Ernst, who gave a political rundown of food security as national security at Iowa State University last week.
AgDay launched in 1982 by satellite on a handful of local affiliates. Today, viewers watch the agriculture news program on 121 affiliate stations and RFD-TV, reaching more than 53 million viewers each year.
Do tariffs fuel inflation? John Phipps’s Customer Support segment explains why economists have struggled to come up with estimates of economic effects due to lingering COVID influence on world business.
Less than a week after the first shipment of grain left Ukraine, three more ships departed Friday. Grain analysts are still concerned about not only how much grain will be exported, but if the ships will safely return.
Ukraine’s first shipment of grain since Russia’s invasion is now one step closer to reaching its final destination of Lebanon. The UN. says the shipment of over 26,000 tons of corn was cleared to proceed Wednesday.
For the first time since the war started, a Ukrainian ship carrying grain left port. The UN says the Razoni was carrying 26,527 MT of corn. The vessel was stuck in port since Feb. 18, before the start of the war.
U.N. aid chief Martin Griffiths said on Thursday that grain shipments from Ukraine could resume as soon as today but that details of the exact coordinates of shipping routes were still being finalized.
Heavy Russian strikes hit the southern Ukrainian port city of Mykolaiv overnight and early on Sunday, killing the owner of one of the country’s largest grain producing and exporting companies, the local governor said.
Five months after the invasion, Senators will receive a classified briefing Wednesday. Russia launched a missile attack on the key grain-exporting port of Odesa Saturday, a day after signing a deal to resume exports.
A day after Ukraine and Russia signed a deal to resume grain exports from Ukraine, Russian missiles hit the Odesa port. Ukrainian foreign-ministry accused Vladimir Putin of “spitting in the face” of U.N and Turkey.
Ukraine pressed ahead Sunday with efforts to restart grain exports under a deal to ease global food shortages but warned deliveries would suffer if the recent Russian missile strike on Odesa was a sign of more to come.
“We have tried to work constructively with the Mexican government to address these concerns, but, unfortunately, U.S. companies continue to face unfair treatment in Mexico,” said Ambassador Tai.
U.S. Labor Secretary Marty Walsh remained optimistic about contract negotiations between workers and shipping companies for some of the country’s most important ports, even as talks extend past a previous deadline.
President Biden says he has not made a decision yet on whether to lift some of the $370 billion of tariffs imposed on Chinese imports by the Trump Administration.
According to the Office of the USTR, the safeguard will allow U.S. exporters to meet Japan’s growing demand for high-quality beef while minimizing the odds that Japan will increase tariffs.
USDA ‘s weekly Export Sales data for the week ended May 26 showed net sales of U.S. cotton for both old- and new-crop delivery with additional sales of sorghum but cancellations of old-crop soybean sales.
Russia is ready to provide a humanitarian corridor for vessels carrying food to leave Ukraine, in return for the lifting of some sanctions, Interfax news agency reported, citing Russian Deputy Foreign Minister.
Estimates of when new routes will be regular shipping lanes keep advancing. It looks like the long-awaited transpolar shipping route could be a real thing around 2050. John Phipps explains why and the possible impact
President Biden spent last weekend in Tokyo, Japan. During the visit, Biden announced a dozen Indo-Pacific countries will join the U.S. in a “sweeping” economic initiative, primarily focused on countering China.
U.S. President Joe Biden has not ruled out using export restrictions to ease soaring domestic fuel prices, U.S. Energy Secretary Jennifer Granholm said on Tuesday.
The U.S.-China trade war began in July 2018 when the Trump administration imposed tariffs on $550 billion worth of Chinese goods. Nearly four years later, the debate remains as to which country actually won.
Ukraine reported a major drop in grain exports, threatening food security for millions worldwide. Grain exports are down 64% so far in May compared to last year, the country’s agriculture ministry said Thursday.
Pro Farmer’s Jim Wiesemeyer is told U.S. lawmakers want Chinese import tariffs knocked down to minimize inflationary pressure. USTR Katherine Tai says tariff adjustments aren’t likely, but are on the table.
Indonesia’s ban on palm oil exports is unlikely to last more than a month as Jakarta has limited infrastructure to store the surplus oil and the country faces mounting pressure from buyers, industry officials said.
Higher prices at the grocery store don’t seem to be causing consumers to veer away from the meat counter. Robust meat demand abroad is also setting sail, despite inflation and shipping struggles.
CBOT soybean oil prices hit a record high after Indonesia announced it will effectively ban palm oil exports as of April 28. With no timeline in place, some question the motive and duration of the announced ban.
John Phipps says positive or negative, any trade balance has dubious value, and only limited prediction power. Other than bragging rights, they mean little with no economic advantage for having a positive trade balance.
February import records show the U.S. did not take in any ethanol for the month, compared with 10.5 million gallons in January.