Sen. Hoeven says lawmakers are working on changes to Section 32 to allow tariff revenues to fund assistance to farmers. The goal is “to make sure that we're ready to go when the president and secretary decide it's time to move forward,” he told me. More here: www.agri-pulse.com/articles/235...

Senate Democrats write to Trump to insist he abandon plans to give financial support to Argentina. The move had rankled US soybean farmers, who face competition from Argentina in the Chinese market. More context here: www.agri-pulse.com/articles/235...

The vast majority of the $7 bn in grain exports that Argentina secured during its two-day export tax holiday were soybeans, soymeal and soybean oil -- with around 75 million bushels headed to China. Only ~17% of the value came from corn, wheat, and barley. From BCR via Susan Stroud of No Bull.

Trump's comments today on directing some tariff revenues to farmers begs the question: "how?" 1/4

Ag groups press officials to use critical minerals list to cut fertilizer prices www.agri-pulse.com/articles/235...

US soybean producers are frustrated by Bessent's offer of financial assistance to Argentina. The move also comes on the heels of Arg. suspending its grain export tax, which spurred a flurry of orders from China for Argentine soybeans this week and contributed to a further slide in US price

For WTO wonks - The European Commission has now given up trying to justify the deal with the US as being compatible with article 24. “It isn’t credible that we can turn this into an FTA” Sabine Weyand said today. This is a change from what they were saying before

Ocean carriers are rotating Chinese-made ships out of US routes ahead of new US port fees set to begin next month. Some are reassuring customers that they won't impose new surcharges to pass along the fees. But US ag remains wary & sees incoming challenges. www.agri-pulse.com/articles/235...

Tariffs now account for almost a fifth of annual household taxes, up from less than 5% before Trump took office -- from Apollo Academy.

Rollins touts Taiwan’s ag purchases, but questions remain www.agri-pulse.com/articles/234...

In the Canadian press today (CBC), tariffs have driven Canadian supermarkets away from US food products. Even with tariffs lifted, there's no guarantee those trade relationships will be rebuilt. www.cbc.ca/news/politic...

After yesterday's drama, the House will vote later today on a rule that would, among other things, shorten the block on future tariff votes from March to January. rules.house.gov/sites/evo-su...

Chinese buyers still aren't placing orders for the new US soybean crop. Absent a political solution that lowers tariffs or kickstarts purchases, the Chinese buying freeze could last several more months, analysts say. Chinese imports from Brazil have been above trend recently and stocks are high. 1/4

A Rep. McClintock staffer tells me he switched his vote on the rule extending the block on tariff votes because Johnson agreed to 1) shorten the extension until Jan. 31 in a forthcoming rule this week. 2) Set up a GOP tariff working group to look at Congress' role in policymaking

Where is the tariff inflation? It's there. Food prices are creeping up and goods prices are clearly climbing, but the impact has been blunted by slowing services inflation, as per @baldwinre.bsky.social's latest Factful Friday installment.

Some noteworthy numbers in the WASDE & crop production reports this week. Soybean acreage is down 7% on last year. Even with record yields, production is set for a 2% drop. One economist tells me some soybean growers have pivoted to corn over export fears & recent trade tensions with China. 1/4

It's giving "ripped my trousers at lunch and have to wear my PE kit on the bottom half."

Negotiators from the EU and CPTPP nations will sit down later this year, New Zealand's finance minister said, as they work to find “alignment” between Brussels’ trade deals with various members of the bloc and the Pacific pact. www.politico.eu/article/eu-t...

Chinese MOF statement on its own tariff deadline delay: The additional time "will be conducive to achieving the development goals of both sides and promoting the development and stability of the world economy." gss.mof.gov.cn/gzdt/zhengce...

Time for a thread on what the administration is calling "transshipment" because what they're really talking about is a wholescale change to rules of origin. A thread: 🧵 (1/n)

The Trump administration's process for assembling a list of hundreds of exemptions for new Brazil tariffs has raised eyebrows among Democrats and lobbyists in Washington. My latest. www.agri-pulse.com/articles/233...

South Korean media reporting this morning that there is a divergence in US and SK officials' descriptions of what both parties agreed to on ag market access. www.chosun.com/english/nati...

Trump may have missed the lesson from Canada that wielding tariffs to influence foreign countries' domestic policy only helps the defiant incumbent. @economist.com chart, via @pkrugman.bsky.social

BRB, just heading into a toxic workplace where everyone is pissed off with everyone.

Sen. Rand Paul speaking about the IEEPA tariff case at CATO: An emergency with 140 countries has "got to be a pretty loose definition of emergency. I think they're going to lose... I think there's a constitutional reason against it, and I think there's ... a statutory reason they may fail."

Sen. Tim Kaine told me this morning he will absolutely challenge the new IEEPA declaration for the Brazil tariff hike. As soon as the notification lands in the Senate, “I'll either file it that day or I'll announce that I'm going to file it,” he said. This could tee up a floor vote for Sept.

Commission President Ursula von der Leyen says that certain ag products will be included in a "zero-for-zero" tariff arrangement with the US. Suggests the scope remains in limbo, though. Asked whether wines and spirits might be included, she told reporters: "There's no decision on that one."

wind turbines are not windmills pass it on

Packed week ahead for ag trade with a key tariff deadline approaching, U.S.-China trade talks, an appeals hearing on the president's use of IEEPA to impose tariffs, and a fact-finding hearing at the ITC on milk proteins. www.agri-pulse.com/articles/232...

SCOOP: Trump officials preparing list of ag products for potential tariff carveouts www.agri-pulse.com/articles/232...

Worth noting the UK-India trade pact signed today will see India lower tariffs on UK whisky from 150% to 75%. That's now lower than the 100% applied to US bourbon -- which Trump secured earlier this year. Great write-up from @glanktree.bsky.social www.politico.eu/article/bigg...

👀👀From yesterday, but FAS says Chinese importers of U.S. ag products are struggling to submit applications for exemptions to the retaliatory tariffs imposed under Trump's first term. Beijing stood up an exclusion process as part of the implementation of the Phase One deal.

💥 EU and US close in on 15% tariff trade deal that would mirror agreement struck with Japan By the one and only @andybounds.bsky.social on.ft.com/4fa5N1k

Tomato suspension agreement backers see paths to tariff reversal www.agri-pulse.com/articles/232...

They made a book vending machine God Bless the District of Columbia

👀 Trump nomination to the Senate 👀

Second EU retaliation package would hit more than $7 billion in ag exports www.agri-pulse.com/articles/232...

Trump trade adviser Peter Navarro at the Hill Nation Summit just now: "Let's be clear, the trade deals are tariffs... Indonesia is a microcosm of what we're trying to do.... The bigger our trade deficit with the country. The more they've got to eat the tariffs."

Denmark thinks it has a model for slashing ag emissions, but others in the EU doubt its scalability. My latest. www.agri-pulse.com/articles/232...

Commerce is pressing ahead with its decision to withdraw from the tomato suspension agreement with Mexico tonight, despite an eleventh-hour full-court lobbying press from those pushing for a delay (see here: www.agri-pulse.com/articles/231...)

Former Trump trade officials have repeatedly stressed that it is a mistake to look at the tariffs purely as a negotiating gambit & warned that the president genuinely believes in tariffs as a policy end, not just a means to an end. This is what they've long known.

Ahead of another busy week with a likely rescissions vote, a tomato suspension agreement deadline and more fallout from Trump's tariff letters, read my preview on what's to come www.agri-pulse.com/articles/231...

👀

Along with beef and coffee, Brazil sends sugarcane and beef tallow to the US that can go into biofuel -- as well as exporting finished ethanol. Farm state senators see opportunities for domestic biofuel feedstock producers if Trump presses ahead with tariffs. www.agri-pulse.com/articles/231...

Lobbying around Mexican tomato dispute ramps up as key deadline nears www.agri-pulse.com/articles/231...

USDA ends livestock imports across the southern border just days after it resumed imports at a sole port of entry in AZ. It had planned to reopen a further 4 entry locations in the coming months, but a new screwworm case just 370 miles from the US border "severely compromises" that plan, USDA says.

Lesotho, facing higher Trump tariffs than any other country (50%), has declared a national state of disaster over the country's "high rates of youth unemployment and job losses". Deputy PM Nthomeng Majara said the state of disaster would last until 30 June 2027. www.bbc.co.uk/news/article...

Trump's tariffs, a boon to airmiles accounts everywhere (from @bloomberg.com)

US tariffs are invigorating EU trade talks with third countries www.agri-pulse.com/articles/231...