Trade
Trump recently signed three executive orders imposing tariffs on Canada, Mexico and China. This marks the first time a president has used powers granted under the International Emergency Economic Powers Act of 1977.
Just hours before the tariffs were set to take effect, Mexican President Claudia Sheinbaum announced the news on X, and President Donald Trump later confirmed. Mexico is the top destination for U.S. ag exports. The announcement from Canada came later on Monday.
Following President Trump’s decision to impose 25% tariffs on Canada and Mexico, Canada announced its own 25% tariffs on $155 billion worth of U.S. imports. Mexico also announced its own retaliatory measures, but no specifics were unveiled as of Sunday morning.
U.S. farmers and various trade groups are very apprehensive about not only the potential negative impacts of tariffs on the U.S. ag sector, but what they do to garner new trade agreements.
Speaking from the Oval Office, Trump justified the tariffs as a response to what he described as excessive migration, drug trafficking and unfair trade practices. While he suggested the tariff rate could further increase, he indicated a decision on whether oil imports would be exempt would come soon.
Sec. Mike Naig says the U.S. government is using what he describes as a three-legged stool approach to address the virus in the dairy and poultry industries.
The Panama Canal is in President Donald Trump’s crosshairs — and he’s pledged to retake control of the strategic waterway due to Chinese influence. He also claims U.S. ships have been unfairly charged for using the canal.
During her confirmation hearing, she emphasized her dedication to agriculture and addressed her stance on ethanol, the Renewable Fuel Standard, tariff impact aid for farmers and Prop 12.
President Donald Trump signed several executive orders on stage at a rally in Washington, D.C.'s Capital One Arena on Monday, immediately following inauguration. It marked a dramatic and public start to his administration.
As Donald Trump is sworn in as the 47th president, he’s not expected to impose China-specific tariffs on his first day in office, signaling a strategic shift toward engagement with Beijing rather than reigniting a trade war.
Markets saw a double-digit rally as USDA says the 2024 corn and soybean crops were not as big as originally projected.
Russia and China are simply not our friends.
Canada is preparing for potential trade challenges following Trump’s threat of a 25% tariff on Canadian imports. The Canadian government is considering a proactive approach, including the possible early release of a retaliatory tariff list.
Trudeau also announced parliament would be prorogued, or suspended, until March 24. That means an election is unlikely before May at the earliest, so Trudeau will remain in charge - at least initially - of dealing with the threat of crippling tariffs once U.S. President-elect Donald Trump takes office on Jan. 20.
Speaker Mike Johnson (R-La.), commits to fast-tracking Trump’s legislative agenda by May, which is perhaps the biggest bill in American history. There will be unprecedented spending cuts to help pay for it all, along with newly proposed tariffs on imported goods.
The first trading day of 2025 saw the U.S. dollar hit a two-year high, but the strength of the dollar in 2024 also had a major impact on commodity markets.
The Fertilizer Institute’s 2024 Fertilizer Industry Economic Impact Study details the contributions of the U.S. fertilizer industry to the economy and also explains the global nature of fertilizer markets.
As federal policy decisions tend to heavily impact rural industries, the outcome of the 2024 election promises to significantly shape the rural economy in the year ahead. CoBank’s annual report outlines what to expect.
Nutrien focuses its business on helping feed a growing global population “from the ground up.”
“I know people are concerned about the tariffs, but the fact is, [Trump] looks at tariffs as a way to get their attention and eventually to get better and reciprocal trade agreements,” says Terry Branstad.
Trump said he would impose a 25% tariff on imports from Canada and Mexico until they clamped down on drugs, particularly fentanyl, and migrants crossing the border, in a move that would appear to violate a free-trade deal.
Trump taps Howard Lutnick for Commerce Secretary, signaling tariff-heavy trade strategy. Lutnick has called the tariffs a negotiating tool that could be used to convince other countries to bring down their own levies or to force companies to move production to the U.S.
Ambassador Terry Branstad was the first U.S. state governor to host Xi Jinping in 1985, so he carries the unique distinction of being called an “old friend” by the Chinese leader as well as a friend to President Donald Trump.
Chinese President Xi Jinping is set to hold meetings with Brazil’s President Luiz Inacio Lula da Silva on Wednesday.
The good news is a Trump presidency and Republican-controlled Senate might result in fewer regulations and lower taxes. The bad news is the U.S. could be headed for a possible trade war with China and other countries.
Trump garnered even stronger support in rural America versus his still robust rural vote in this first administration. That is likely a backlash against the ag policy moves of the Biden/Harris administration that focused on underserved and minority rural citizens.
The British Columbia ports labor dispute continues, impacting exports at Canada’s biggest port in Vancouver with no sign of negotiating progress.
Mexico came in with another big buy of U.S. corn on Friday. USDA reported a sale of 781,322 metric tons of corn for delivery to Mexico.
USDA forecasts agricultural exports at $173.5 billion and imports at a record $204 billion for a projected record trade deficit of $30.5 billion.
A Virginia Tech report finds global agricultural productivity growth has slowed from 1.9% to 0.7% annually.