The Biden Administration has done the impossible – it has united Congressional Democrats and Republicans on an issue, and not in a good way. It turns out that Congressional trade folks felt good when they came together back in 2020 and in a strong bipartisan fashion, voted overwhelmingly in favor of the USMCA. They wonder where is that level of ambition today?
Both Republicans and Democrats believe Article 2, Section 2 of the Constitution gives the Congress primacy over trade. They didn’t like it when Donald Trump ran roughshod over this fact, and they don’t like that Joe Biden is continuing to ignore it. They want the level of consultation required when the President is obligated under Trade Promotion Aut...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
