President Trump started tweeting between 4 and 5 a.m. this morning about the China trade negotiations, shortly after tariff rates on $200 billion of imports of China were hiked from 10 percent to 25 percent at 12:01 a.m. Additional tariffs could be in the works, but according to the president’s twitter account, so could a purchase of about $15 billion in commodities (destined for food aid donations). Following is a recap of how the tariffs have developed:
The 10 percent tariffs on about $200 billion worth of Chinese imports were announced on 21 September 2018 and levied on 24 September. The 21 September announcement included an escalator clause that provided a tariff rate increase to 25 percent on 1 January 2019. On 19 December...
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...
