Farm Loan Delinquencies Up and More Tariffs to China
**Farm loan delinquencies are on the rise BUT remain historically low.
The share of farm non-real estate loans that were delinquent in the fourth quarter of 2017 was 1.65%, compared to the 2016 rate of 1.47%, and more than double 2014 levels of 0.72%.
While the doubling of farm loan delinquencies over three years could be alarming, it's worth considering the starting point of record-lows in 2014.
Current delinquency rates are among the lowest in more than 30 years.
**The USDA Tuesday, released internal guidance on changes made to farm labor housing eligibility.
The Consolidated Appropriations Act of 2018 amended a section of the Housing Act of 1949 to extend the Farm Labor Housing tenant eligibility to ag workers legally admitted to the U.S. and authorized to work in agriculture.
Due to this rule change, domestic farm laborers legally admitted into the country under an H-2A work visa are now eligible for this state-inspected housing.
**President Trump is following through with promises to hit China with new tariffs on $200 billion worth of imports escalating the trade war.
According to Agri-Pulse, Wednesday's announcement from U.S. Trade Representative Robert Lighthizer kicks off a process of initiating new tariffs that could go into effect as early as September.
The U.S. levied tariffs on $34 billion worth of Chinese goods on July 6. China announced an equivalent retaliation soon afterwards, prompting Trump's reaction.