U.S. President Donald Trump on Saturday ordered sweeping tariffs on goods from Mexico, Canada and China, demanding they stanch the flow of fentanyl - and illegal immigrants in the case of Canada and Mexico - into the United States, kicking off a trade war that could dent global growth and reignite inflation.
Trump launches trade war with tariffs on Mexico, Canada and China
Canada strikes back with tariffs on $155 billion of US goods; China says it will take Trump to WTO
Trump set to impose tariffs on Canada, Mexico and China on Feb. 1 White House says
A White House spokesperson said that no tariff announcements were planned for Friday
U.S. President Donald Trump on Saturday will implement tariffs of 25 per cent on Canadian and Mexican imports and 10 per cent on Chinese goods with immediate effect, White House spokesperson Karoline Leavitt said on Friday.
No day-one tariffs coming from Trump, but trade overhaul planned, official says
President Donald Trump will issue a broad trade memo on Monday that stops short of imposing new tariffs on his first day in office but directs federal agencies to evaluate U.S. trade relationships with China, Canada and Mexico, a Trump administration official said.
India to allow imports of U.S. pork and products
Washington | Reuters — India has agreed to allow imports of U.S. pork and pork products into India, removing a longstanding barrier to U.S. agricultural trade, U.S. Trade Representative Katherine Tai and Agriculture Secretary Tom Vilsack said on Monday. “India’s agreement to allow U.S. pork imports for the first time is great news for U.S. […] Read more
Canada violated CUSMA pact by reserving dairy quotas, panel finds
Canada 'will ensure compliance,' trade minister's rep says
Washington | Reuters — Canada violated a trade accord with the U.S. and Mexico by reserving most of its preferential dairy tariff-rate quotas for Canadian processors, a dispute panel found, and Washington warned it could retaliate if Ottawa did not change course. The U.S. Trade Representative’s office claimed victory for Washington in the first dispute […] Read more
U.S. packer profit margins jumped 300 per cent during pandemic, economists say
Increased costs don't explain higher profits, White House advisors say
Washington | Reuters — Four of the biggest meat-processing companies, using their market power in the highly consolidated U.S. market to drive up meat prices and underpay farmers, have tripled their own net profit margins since the pandemic started, White House economics advisers said. Financial statements of the meat-processing companies — which control 55 to […] Read more
New U.S. trade chief Tai focused on CUSMA, China ties in calls
New trade deals on hold for now, White House says
Washington | Reuters — New U.S. Trade Representative Katherine Tai mapped out her priorities and Washington’s desire to rebuild alliances in initial calls on Monday with her counterparts from Canada, Britain and the European Union. Tai, sworn in Thursday as President Joe Biden’s top trade negotiator, emphasized climate change, racial equity and the need to […] Read more
Nigeria’s Okonjo-Iweala makes history as new head of WTO
Geneva-based body leaderless for six months; Trump paralyzed some of WTO's functions
Geneva/Washington | Reuters — Three months after the Trump administration rejected her, former Nigerian finance minister Ngozi Okonjo-Iweala received unanimous backing on Monday to become the first woman and first African director-general of the World Trade Organization. A self-declared “doer” with a track record of taking on seemingly intractable problems, Okonjo-Iweala will have her work […] Read more
Trump visits Iowa as officials warn storm destroyed corn crops
Cedar Rapids | Reuters — U.S. lawmakers and state officials from Iowa said on Tuesday that much of the state’s corn crop will not be harvested following a fierce windstorm last week, as President Donald Trump visited to review the damage. The destruction from the Aug. 10 derecho storm compounded troubles for a U.S. agricultural […] Read more
U.S. egg prices hit record levels as pandemic buying boosts demand
Washington | Reuters — Increased demand for eggs in the United States has sent egg prices soaring in recent weeks as consumers scramble to stock up on staples due to coronavirus shutdowns. Wholesale prices of “Midwest large” eggs hit an all-time high of $3.09 a dozen on Thursday, triple their level in early March, before […] Read more
Canadian Cattlemen Presents: Depth of Field
