Trade
The deal includes two ports that have been under scrutiny as potential avenues for Chinese influence in the operation of the canal.
President Trump’s new tariffs on imports from Canada, Mexico and China have gone into effect. While the economic consequences are unknown, Secretary of Agriculture Brooke Rollins has promised to have a plan ready for farmers, if needed.
China retaliated swiftly on Tuesday with 10% to 15% retaliatory levies impacting $21 billion worth of U.S. agricultural and food products, moving the world’s top two economies a step closer toward an all-out trade war.
Under the direction of Secretary of Agriculture Brooke Rollins, USDA is ready to roll out a number of programs that have been on hold pending review, and she’s pushing Congress to get to work on finishing a new farm bill.
While Canada and Mexico have taken measures to address U.S. concerns, China’s response remains muted, potentially setting the stage for further trade tensions.
U.S. agricultural import and export projections for fiscal year 2025.
President Trump says tariffs on goods from Canada and Mexico will now take effect on April 2, 2025.
The look at corn and soybean acreage under current conditions will be among the key focal points during the event, but it will also be key to see how USDA paints an export outlook with so much uncertainty surrounding tariffs and trade.
Trump said Monday that his planned 25% tariffs on all Mexican and Canadian exports to the U.S. “are going ahead on time, on schedule,” meaning the duties would take effect on March 4 at the conclusion of a one-month suspension.
Arguing about the canal is a distraction. The canal works well and serves our interests. It’s time to pursue authentic trade opportunities.