Trump Fires Back on Argentinian Bee and U.S.-China Trade Negotiations
From the Ag Information Network, I’m Bob Larson and this is your Agribusiness Update.
**President Trump responded to backlash against his plan to import beef from Argentina to help lower beef prices in grocery stores.
In a Truth Social post, Trump said cattlemen should be
grateful for his tariff policies.
Bloomberg reports the plan has drawn the ire of ranchers, who say it could crush the U.S. beef industry.
Experts also say the plan would do little to lower prices at meat counters.
**Treasury Secretary Scott Bessent expects China won’t impose export controls on rare earth mineral exports, and the U.S. won’t impose 100% tariffs on China.
Bessent says trade negotiations with China have gone very well, ahead of President Trump’s meeting with Chinese Premier Xi (ZHEE) Jinping.
He says President Trump gave him maximum leverage when he threatened 100% tariffs on the Chinese.
Bessent says we also agreed on substantial agricultural purchases for America’s farmers.
**President Trump announced an immediate end to trade negotiations with Canada.
The Guardian reports it’s a result of Trump’s opposition to a TV ad from Canada that quoted former president Ronald Reagan.
The ad from the provincial government of Ontario uses excerpts from a 1987 speech where the former president said, “Trade barriers hurt every American worker.”
Trump posted on social media that Canada had “fraudulently” used an advertisement which he called “fake.”
