In this file:
· China, U.S. complete another round of trade talks
· For China, Trade War Truce Ends March 2
China, U.S. complete another round of trade talks
Legislative Watch: House Agriculture Committee has new faces; USDA awards ATP funds; deadlines extended for USDA sign-up; USDA names senior leaders.
P. Scott Shearer, National Hog Farmer
Feb 01, 2019
On Thursday, the United States and China completed two days of negotiations in Washington, D.C., to work toward an agreement to end the trade war between the two countries. Another round of talks will take place in China in mid-February. President Trump says there would be no final deal until he meets again with Chinese President Xi Jinping.
China said yesterday it would be buying another 5 million metric tons of U.S. soybeans. There was no indication when the purchases would take place.
The deadline to reach a deal is March 1 or President Trump plans to increase tariffs on $250 billion of Chinese goods.
House Agriculture subcommittee chairs and ranking members named
House Agriculture Committee Chairman Collin Peterson (D-MN) has named the subcommittee chairs for the 116th Congress and Ranking Member Mike Conaway (R-TX) named the subcommittee ranking members. The chairs and ranking members are:
· David Scott (D-GA) and Austin Scott (R-GA) — Commodity Exchanges, Energy and Credit
· Jim Costa (D-CA) and David Rouzer (R-NC) — Livestock and Foreign Agriculture
· Marcia Fudge (D-OH) and Dusty Johnson (R-SD) — Nutrition, Oversight and Department Operations
· Filemon Vela (D-TX) and Glenn Thompson (R-PA) — General Farm Commodities and Risk Management
· Stacey Plaskett (D-VI) and Neal Dunn (R-FL) — Biotechnology, Horticulture and Research
· Abigail Spanberger (D-VA) and Doug LaMalfa (R-CA) — Conservation and Forestry
· The subcommittees will be more active than in the past and are expected to hold a number of hearings.
Republicans name House Agriculture Committee members
There will be 21 Republican members of the House Agriculture Committee with three being new (*) to the committee. The members are:
Ranking Member Mike Conaway (TX), Glenn ‘GT’ Thompson (PA), Austin Scott (GA), Rick Crawford (AR), Scott DesJarlais (TN), Vicky Hartzler (MO), Doug LaMalfa (CA), Rodney Davis (IL), Ted Yoho (FL), Rick Allen (GA), Mike Bost (IL), David Rouzer (NC), Ralph Abraham (LA), Trent Kelly (MS), James Comer (KY), Roger Marshall (KS), Don Bacon (NE), Neal Dunn (FL), Dusty Johnson (SD)*, Jim Baird (IN)* and Jim Hagedorn (MN)*.
USDA awards Agricultural Trade Promotion program funds ...
Deadlines extended for USDA sign-up ...
USDA names senior leaders ...
For China, Trade War Truce Ends March 2
Trump may have to go against the hawks in his cabinet
Trump has touted twice now that a “great deal” with China was in the works.
Kenneth Rapoza, Senior Contributor, Forbes
Feb 3, 2019
The 90-day trade war truce ends March 2. That’s the day U.S. Trade Representative Robert Lighthizer gave to increase tariffs on a number of Chinese imports if there is no progress in trade talks this month. Presidents Trump and Xi Jinping are supposed to meet in Asia over the next four weeks, possibly putting that date on hold. No date or location has been set.
Last week’s meeting between trade negotiators saw little progress on important issues like intellectual property protections, the biggest sticking point in a deal. China continues to open its market to foreign firms, with all-important financial services continuing to open up in mainland China. JPMorgan co-president Daniel Pinto said the firm is on track to open an investment bank in China this year and acquire a greater stake in a Chinese wealth management firm it has been partnered up with for the last few years.
”It wasn’t too surprising that the latest talks ended without a deal, which makes sense considering the limited reform policies we’ve seen from China since December,” says Nick Marro, Asia and China analyst at The Economist Intelligence Unit. “The most important preconditions for a deal will rest on how drastically China is reforming its own business environment, not on how many U.S. exports the Chinese are willing to purchase.”
Trump has complained incessantly about the yawning trade gap between the two countries. The trade deficit with China widened again last year. Rumor had it that some people involved in the China talks said China would increase imports of U.S. goods to throw Trump a bone on his deficit. But no one believes that is even remotely possible given the fact that the private sector in China would have to be mandated to buy American, and non-American companies would complain to the World Trade Organization that they are being treated unfairly by the Chinese.
China cut its tariffs on U.S. soybeans and is increasing imports now, but the numbers are far from a big volume spike above historic norms.
Trump may have to go against the hawks in his cabinet , led by Lighthizer, who wishes to remap the American supply chain out of China and hamper the country’s climb up the high-tech ladder...
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