The Biden administration will review all national security measures put in place by former President Donald Trump, including the U.S.-China phase one trade deal signed January 2020, White House Press Secretary Jen Psaki made in comments Friday.
Last year’s agricultural purchases to China fall 35% below goal but up 65% year over year. The Biden administration will review all national security measures put in place by former President Donald Trump, including the U.S.-China phase one trade deal signed January 2020, White House Press Secretary Jen Psaki made in comments Friday.
Dr. Ian Sheldon, Ohio State’s Andersons Chair of Agricultural Marketing, Trade and Policy, led the discussion examining the effects of the pandemic on global trade and U.S. agricultural trade, including an evaluation of the Phase 1 Trade Agreement with China.
President Donald Trump dug deep into executive powers to drive his populist trade policy, strike a mini deal with China and keep Congress largely on the sidelines.
Bringing higher rates of unemployment and poverty, the pandemic has also pushed more people into a struggle to buy the basics, including food.
Grocery store food prices have gone up only about 5% since January 2019, but with so many people out of work, food banks have seen a surge in demand, said Zoë Plakias, an assistant professor of agricultural, environmental, and development economics at The Ohio State University College of Food, Agricultural, and Environmental Sciences (CFAES).
COLUMBUS, Ohio – Organizers of the 2020 Agricultural Policy and Outlook Conference hosted by the Department of Agricultural, Environmental, and Development Economics (AEDE) at The Ohio State University, say the aim of this year’s conference is to offer much-needed insight to those involved in the agricultural industry during a time marked with so much global uncertainty.
One of the sessions of the 2020 Virtual Farm Science Review was held by Ohio State’s College of Food, Agricultural and Environmental Sciences’ Department of Agricultural, Environmental, and Development Economics, as their team focused on the Value Chains in Food and Agriculture. Our Ohio Weekly host Ty Higgins moderated that session as the panel talked about how corn, cattle, pork, milk and other sectors have adjusted to reduced ethanol production, lower prices and supply chain logistics due to COVID-19 an
The U.S. trade policy, labor and immigration issues, agricultural commodity markets, and the food supply chain will be among the topics addressed at a panel discussion during the 59th annual Farm Science Review Sept. 22–24 at fsr.osu.edu.
The U.S.-China trade war represents a natural experiment in the sense that we have not seen such wide-ranging increases in tariffs since the 1930s, when Congress passed the Smoot-Hawley Tariff Act (Bown and Zhang, 2019). Not surprisingly, applied trade economists have already conducted in-depth research on the impact of the trade war so far, the most notable being Amiti, Redding, and Weinstein
Analysis of the current administration’s trade policy choices has typically interpreted them in terms of a zero-sum game, i.e., rather than generating mutual benefits in a positive-sum game, international trade is a game where economically, one country is a winner while the other must be a loser (Chow and Sheldon, 2019). However, there is an alternative explanation for these actions: the administration has chosen to move from rules-based to power-based bargaining ove
In light of the sectors targeted by China’s retaliatory tariffs against U.S. imports, it is not surprising that agriculture was a critical component of the Phase One Trade Agreement between the U.S. and China, that went into effect on February 14, 2020. Specifically, China committed to purchasing an additional $12.5 and $19.5 billion worth of U.S.
The global pandemic has had a pretty drastic on international trade. In fact the impact is even greater than it was during the financial crisis back in 2008-2009.
Though the COVID-19 pandemic has cut demand for many U.S. products, agricultural exports are holding up well, according to a new analysis by an agricultural economist with The Ohio State University.
“We all have to eat,” said Ian Sheldon, a professor in the College of Food, Agricultural, and Environmental Sciences (CFAES).
Even when consumer income declines, the demand for food changes very little, Sheldon said. People in the developed world might be dining out less frequently, but they’re still buying groceries.
Within two years of President Trump’s taking office, one of his key political constituencies — America’s farmers — were reeling from his trade war with China.
President Trump has said the US could save $500 billion by dissolving its trade relationship with China. Ohio State University Trade Economist Ian Sheldon says Trump is referring to the US trade deficit with China, but he thinks the comments are over-simplifying the trade relationship.
The U.K. is scheduled to leave the European Union at the end of the month. When Brexit officially happens, the British government will no longer be subject to a raft of EU rules, including food safety regulations that prohibit the sale of chicken disinfected with chlorine.
Ian Sheldon, an agricultural economist at Ohio State, notes that $40 billion in ag exports by the end of the year represents a major jump for U.S. output. “If China meets those commitments, that is a significant increase in our exports to China,” he says. “Our exports have never been above $29 billion, before the trade they were around about $24 billion, so we’re talking about almost a doubling of our exports in a one- to two-year period.”
The deal will reportedly will not lift U.S. tariffs on $250 billion dollars worth of Chinese imports. Ian Sheldon, the Andersons Chair of Agricultural Marketing, Trade and Policy at the Ohio State University, said regional farmers could still feel financial pain.
Ohio State Economics Professor and agriculture expert Dr. Ian Sheldon questions why there's no mention of subsidies in the agreement. He says there's some good in the deal, but points to the fact that all the tariffs implemented in 2018 on $250 billion dollars of Chinese goods will remain unchanged.
“Farmers have got caught in the crossfire of a bigger issue, which is Chinese behavior on things like intellectual property and subsidies and they’re paying a big price I think for the US trying to resolve issues with China, when I think we should have done it multi-laterally, and I still think and believe we should,” says Ohio State Professor Dr. Ian Sheldon.
Progress is being made in finalizing the “Phase One” trade deal. Ian Sheldon, a professor and the Andersons Chair of Agricultural Marketing, Trade, and Policy at Ohio State University, discusses what could be in the agreement.
The World Trade Organization (WTO) has been a very successful system for the governance of international trade, progressively lowering tariffs and stimulating trade growth.
Hope for resuming a positive tone in ongoing U.S. trade discussions with China has returned, but some agricultural experts say it may not be enough.
"Brazil is ratcheting up its production capacity; it's already the world's leading exporter of soybeans. I think the U.S. exporters stand to lose a lot of market share that they've spent 20-odd years building up," said Ian Sheldon, a professor of agricultural economics at the Ohio State University who specializes in trade. "It's very difficult to get it back again."