Tariffs/Trade

USTR Greer says the US is on the way to an agricultural trade surplus again

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USTR Greer reports the U.S. is nearing an agricultural trade surplus while navigating complex USMCA renewals, tightening environmental trade links, and managing critical resource dependencies with China.

News detail

USMCA: Progress is being made with all due speed on USMCA negotiations. Some issues like rules of origin, labour and environment, may take longer and push into next year. Are working to maintain and expand agricultural market access in Mexico and Canada. Mexico has been quite pragmatic in negotiations, adding that they are dependent on US market for growth. Lower environmental standards in other countries justify the implementation of higher tariffs. China: China export restrictions on fertiliser may be eased in trade talks, but caution against unrealistic outcome expectations. We say we want to ensure that any trade between the US and Mexico does not benefit China or Vietnam. We are getting a flow of critical minerals from China, but not as much as we want. US to increase domestic production of critical materials to reduce dependency on Chinese supply. We have regular calls with Chinese counterparts on critical minerals; we have leverage to make sure they comply with agreements. Other:Brazil's deforestation practices put US farmers at a complete disadvantage.

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