Trade War to Worsen Uncertainty around trade has been a burden to the U.S. economy, especially to farmers, and yet more trouble appears to be coming. Following are the five reasons why Donald Trump is likely to raise punitive tariffs on Chinese goods to 25 percent:
Politics: This president has very little bipartisan support on most things, but both political parties and the American business community agree with his effort to reduce the adverse impact of China’s state-directed economy. Obstinance #1: Donald Trump walked away from the Trans-Pacific Partnership (TPP), a relatively good deal, so he certainly has little trouble walking away from a bad deal with China. Obstinance #2: He walked away from an agreement with North Korea&...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...