Trade War Calculations The market remains uncertain about the potential outcome from this coming weekend’s meeting between the leaders of China and the U.S. because it is a calculation of the political and economic tipping point. Note the following:
Neither side wants a long-term economic decoupling. Trump must appear to have accomplished something; Xi cannot concede to a “contain” China prescription. China is making offers to improve its trading practices, but none address the critical problem of the government’s deepening involvement in the economy. Beijing made unfulfilled promises to former U.S. Presidents Bill Clinton and George W. Bush. Trump does not need an agreement this weekend, but he must have one...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
