In this file:
· Ag looks for ‘certainty’ out of Trump-Xi meeting
… ISU ag economist Chad Hart says there’s a lot riding on that meeting…
· Trump, China’s Xi, To Talk Trade This Weekend
… The two leaders will meet on the sidelines of the G20 Summit in Argentina Saturday as agriculture, and other sectors hope the two reach a ”ceasefire” in the tit-for-tat tariff war…
· Battle lines drawn for G20 summit
… Trump has already rattled global markets by enacting tariffs on the bulk of Chinese imports, and is threatening to go further in January. He will press Chinese President Xi Jinping to avert the stepped-up tariffs by throwing open China’s markets to US competition and protecting foreign companies’ intellectual property…
· Stakes are high as Trump and Xi prepare to meet
The upcoming meeting between President Trump and China’s president Xi has many in agriculture on edge…
Ag looks for ‘certainty’ out of Trump-Xi meeting
By Ken Anderson, Brownfield
November 29, 2018
An Iowa State University ag economist hopes some “certainty” comes out of the upcoming meeting between the presidents of the U.S. and China.
ISU ag economist Chad Hart says there’s a lot riding on that meeting.
“Tell us whether these tariffs are going to be here long-term or not,” Hart says. “Anything that sort of causes them to look like ‘on-again, off-again’ just puts us where we can’t plan for what does this business need to look like, as we look out over the next year to 18 months.”
Hart says positive news from that meeting would probably give the soybean market a boost, but he says the trade war will have a long tail.
“When I’m looking at the Chinese market, for example, we will never be as large in that market as we once were,” he says. “But the idea is that, while we’re shrinking in that market, we’ll be growing in others. So there will be a rebalancing, if you will, of trade throughout the world.”
Regardless of what happens, Hart says 2019 looks like more of the same...
more, including audio [4:37 min.]
Trump, China’s Xi, To Talk Trade This Weekend
Source: NAFB News Service
via Hoosier Ag Today - Nov 29, 2018
The long-awaited meeting between President Donald Trump and China’s President Xi Jinping this weekend brings hope of eased trade tensions between the two nations. The two leaders will meet on the sidelines of the G20 Summit in Argentina Saturday as agriculture, and other sectors hope the two reach a ”ceasefire” in the tit-for-tat tariff war. Bloomberg News reports such a truce could at the least delay an escalation of the trade conflict.
The Trump administration argues any progress would be the result of the pressure Trump as placed on China, being the $250 billion of tariffs, with the threat of more to come. China has retaliated by targeting U.S. agriculture...
Battle lines drawn for G20 summit
via Herald Live (S.Africa) - 30 November 2018
US President Donald Trump jetted to Argentina on Thursday for a G20 summit, keen to do battle with China on trade and sharpening his rhetoric over Ukraine against Russia ahead of a meeting with its leader, Vladimir Putin.
The weekend summit is confronted with increasingly dire warnings, by the International Monetary Fund among others, of the potential harm faced by the world economy from Trump’s trade wars.
G20 leaders, whose countries account for four-fifths of the world’s economic output, first met in November 2008 to forge a united front against the global financial crisis.
A decade on, that unity has vanished as the “America First” Trump shreds the consensus underpinning international trade and other G20 countries such as Brazil, Italy and Mexico turn to populist leaders.
Trump has already rattled global markets by enacting tariffs on the bulk of Chinese imports, and is threatening to go further in January. He will press Chinese President Xi Jinping to avert the stepped-up tariffs by throwing open China’s markets to US competition and protecting foreign companies’ intellectual property.
Xi did vow on Wednesday that China would boost protection of intellectual property.
But foreign firms in China complain such promises are routine and ring hollow.
At best, analysts say, there will be a temporary truce at the G20 to give both Trump and Xi something to crow about.
French President Emmanuel Macron warned against the risk of “a tete-a-tete between China and the US and of a destructive trade war for all” ahead of the summit.
Despite doubts that a separate planned encounter at the G20 between Trump and Putin would go ahead, Kremlin spokesperson Dmitry Peskov said on Thursday Washington had confirmed the meeting.
Trump had threatened to cancel the meeting.
He did so when he expressed deep concern over a weekend incident near Crimea in which Russian security forces boarded and detained three Ukrainian vessels.
But Peskov said there would be brief talks between the leaders, followed by broader Russia-US talks.
The US, Canada and Mexico are expected on Friday to sign a revamped version of the North American trade pact Nafta, which Trump excoriated when running for president.
If that negotiation has averted one trade war, others are brewing with Trump threatening to impose tariffs on foreign car imports.
Britain’s “Brexit” is another threat to global growth, IMF chief Christine Lagarde said...
Stakes are high as Trump and Xi prepare to meet
By Ken Anderson, Brownfield
November 29, 2018
The upcoming meeting between President Trump and China’s president Xi has many in agriculture on edge.
The stakes are particularly high for soybean growers. Dave Walton, a farmer from Wilton, Iowa and a director on the Iowa Soybean Association board, expresses the sentiments of many farmers.
“I’d like to see President Trump and President Xi get in the room together and talk about the situation they’re both in—and then let the professional trade negotiators get back to work,” Walton says. “We haven’t seen a lot of progress on that front for quite a while, but I’m really hopeful that when those two meet we’ll see a de-escalation and progress towards the goal of resolving this trade issue.”
Trump, before departing this morning for Buenos Aires, said the two sides were “very close” to a trade deal, but added: