Mexican Tomato Agreement and U.S. Denies Japan's Tariff Exemption
From the Ag Information Network, this is your Agribusiness Update.
**Mexican Ag Minister Julio Berdegue said last week he reached agreements with U.S. Ag Secretary Brooke Rollins in a "friendly" meeting in Washington where they met with tomato industry executives.
Berdegue says he met with more than two dozen representatives and companies involved in distributing Mexican tomatoes in the U.S.
This comes after the U.S. threatened to withdraw from a bilateral agreement on Mexican tomato exports, citing its failure to protect domestic growers.
**The U.S. has denied Japan’s push for full exemption from both “reciprocal” and country-specific tariffs, according to Kyodo.
U.S. officials informed Japan’s chief negotiator that only a reduction, not elimination, of the 14% Japan-specific tariff on certain goods (currently suspended through early July) is under consideration.
Japan had sought the removal of these duties.
Ag Secretary Brooke Rollins plans to visit Japan, India and Vietnam in the coming weeks.
**Farmer sentiment improved in April as producers expressed more optimism about current and future conditions.
The Purdue University/CME Group Ag Economy Barometer rose 8 points to 148, up from 140 in March.
The Index of Current Conditions climbed 9 points to 141, while the Index of Future Expectations increased 8 points to 152.
A majority of producers said they believe the increased use of tariffs will ultimately benefit the U.S. ag economy.
