Ag News: Trump & China Tariffs
**President Trump says he asked China to immediately remove all tariffs on U.S. ag products because trade talks were progressing well.
According to agrimarketing.com, he also delayed plans to impose 25 percent tariffs on $200-billion worth of Chinese goods March 1st, as scheduled.
Ag Secretary Sonny Perdue says U.S. trade negotiators had also asked China to reduce tariffs on U.S. ethanol, but it’s unclear whether Beijing was willing.
**The National Corn Growers Association, American Soybean Association, National Association of Wheat Growers and National Sorghum Producers have publicly announced their support for the U.S.-Mexico-Canada Agreement.
Agrimarketing.com reports, members representing all four organizations will be advocating members of Congress to ratify USMCA this year while also urging the Administration to keep the current NAFTA agreement intact until the new agreement is ratified.
**Expect commodity prices to pretty much repeat what happened in 2018, at least until such influences as the current trade war are settled.
That’s according to 44-year commodity trading veteran and Successful Farming marketing columnist Al Kluis who tells agriculture.com, the four key fundamentals that will influence commodity prices this year are: if a trade deal with China gets done, what happens with the weather and crop size in South America, what the acreage mix is for U.S. corn and soybeans, and our weather and crop size.
He stresses a trade deal with China is key to determining commodity values in 2019.