East Asia Trade Bloc: Japan, China and South Korea completed the first round of talks intended to achieve a free trade agreement. No one should expect the process to be quick. It was characterized as largely procedural. The notable geopolitical aspects include the following:
The launching of the Trans-Pacific Partnership by the U.S. (plus Japan's intention to join it) created a threat that prompted China's interest in an East Asian trade pact. Japan and South Korea will be defensive on agriculture and offensive on industrial goods, whereas China wants greater opportunities for its agriculture. All parties hope that increased economic relations, and consequently cultural relations, will temper the otherwise long history of political...
What You Need to Know Today: Cattle futures extended their sharp selloff Friday as weakening cash cattle prices, deteriorating feedlot profitability, and reduced packer demand continued to weigh on the market. The inability of futures to sustain a rally following last week's bullish Cattle on...
As predicted, the Federal Reserve held rates steady at the last meeting before the midterm elections, likely in part because of the election (see WPI 19 October and 22 September). The decision comes at the tail end of a midterm election cycle that has been marked by the two parties campaigning...
Key Takeaways: The tariff burden rose sharply in 2025 and 2026: the effective rate on imports in HTS Chapters 1–24 increased from 1.53 percent in 2024 to 6.11 percent in 2025, before averaging 5.68 percent in January–August 2026. Headline rates tell only part of the story: exemptio...
