India-U.S. Agree to Expand Trade and USDA Cuts Farm Export Forecast
**India and the U.S. agreed to expand trade between the nations on some agricultural products, including U.S. cherries, alfalfa, and distiller’s dried grains, as well as Indian mangoes, grapes, shrimp, and water buffalo.
The two sides came together in the first U.S.-India Trade Policy Forum meeting in four years.
The two countries have disputed over a range of issues recently, including tariffs that dampened the prospects of reaching a bilateral trade deal.
**A coalition of farm groups wrote to U.S. Trade Representative Katherine Tai and Ag Secretary Vilsack on challenges surrounding the World Trade Organization.
The Hagstrom Report says those groups are pleased that Ambassador Tai gave strong statements on engaging boldly with the WTO.
They want the Biden administration to try and get the public stockholding and the special safeguard mechanism proposals at the WTO eliminated in connection with the upcoming 12th Ministerial Conference.
**The USDA cut its farm exports forecast in 2022, blaming weaker soybean demand from China and lower soybean prices.
The Economic Research Service says it now expects American ag exports to hit $175.5 billion in the fiscal year 2022, down from the August forecast of $2 billion.
Looking ahead, China is expected to remain as the largest U.S. agricultural market, with exports forecast now at $36 billion, a $3 billion drop from USDA’s August prediction.