World Perspectives

Recent Policy Analysis

EU Budget Quandary; Votes and Viruses

EU Budget Quandary The EU is in a quandary about how to square its budget following the exit of the UK, which was a net positive contributor to the balance sheet. In addition to taking on new spending goals on the environment, farmers are demanding that their share of the budget not be cut. The...

COVID-19 Calculations; Trade Policy Shorts

COVID-19 Calculations Equities have now plunged two days in a row over the coronavirus, but commodities fought back today rather than overreact. The COVID-19 virus is said to have put Italy close to recession, though German businesses are said to still be positive. That is the problem with curr...

livestock

Stocks of Pork and Chicken Hanging Over the Market

The combined inventory of red meat and poultry in cold storage at the end of January was 2.374 billion pounds, that’s 102.4 percent of a year earlier and more significantly, 106 percent of the five-year average. Beef was 96 percent of a year ago.   The build-up came from pork an...

feed-grains soy-oilseeds wheat

Election Year Farm Payments and Formulas

Shortly after USDA announced the final tranche of Market Facilitation Payments (MFP) and noted that would almost certainly be the last of the federal checks, President Trump tweeted (in all caps): IF OUR FORMALLY TARGETED FARMERS NEED ADDITIONAL AID UNTIL SUCH TIME AS THE TRADE DEALS WITH CHINA...

Tax Tech Divide; Low Leverage on India

Tech Tax Divide G-20 finance ministers failed to make headway on the issue of high-tech company taxation and the prognosis is not good. The Czech Republic is the latest European company to debate imposing a high levy on global internet companies and its officials apparently brushed aside the th...

Do versus Say I; Do versus Say II; EU Week in Geneva

Do versus Say I Likely echoing the government’s Office of Management and Budget and an earlier interagency agreement, USDA Secretary Sonny Perdue and other officials warned that farmers should not expect a continuation of the Market Facilitation Program payments started last year in respo...

Agriculture/Environment Nexus; Europe Follows U.S.

Agriculture/Environment Nexus EU Health Commissioner Stella Kyriakides told the European Parliament this week that pesticide and fertilizer use will be reduced to respond to “citizen concerns,” which is not a good indicator of science-based standards. Meanwhile, French farmers are u...

Unilateral Everything; Not So Very Big; Ugly Bailout

Unilateral Everything  U.S. President Trump gets blamed for “America First” unilateralism but in fact it is practiced equally by all countries. Agricultural protectionism has been a dominant factor for decades and many countries extend this to fisheries and forestry. However, i...

feed-grains soy-oilseeds wheat

China's Tariff Reductions

China announced this morning a list of 696 U.S. products for which importers may apply for a tariff exemption. Importers must apply for the exemption by 2 March, with a particular volume of imports specified in the application. Import volumes above the applied for amount will be subject to the...

Partial Analysis; WTO Repeated Error; China’s Virus Problem

Partial Analysis The EU undergoes a WTO trade policy review this week in Geneva and Maria Cipollina and Luca Salvatici write in the European Review of Agricultural Economics that the trading block’s tariffs have greatly redirected agricultural imports. The pair correctly note that agricul...

India Offer to U.S.; Coronavirus and Super Tuesday; Concrete AB

India Offer to U.S. New Delhi and Washington would both like to have a trade deal by the time President Trump visits India on 24-25 February and India is making offers. According to Reuters, India has offered to reduce its tariff on chicken legs from 100 percent to 25 percent and make other con...

Fed Report: More Growth, Less Leverage

This week, Federal Reserve Board Chairman Jerome Powell delivered the first of his twice-per-year reports to Congress in testimony before the House and Senate Banking Committees. The basic message was the economy is strong, but the current range of low interest rates may mean a loss of leverage...

EU Budget Quandary; Votes and Viruses

EU Budget Quandary The EU is in a quandary about how to square its budget following the exit of the UK, which was a net positive contributor to the balance sheet. In addition to taking on new spending goals on the environment, farmers are demanding that their share of the budget not be cut. The...

COVID-19 Calculations; Trade Policy Shorts

COVID-19 Calculations Equities have now plunged two days in a row over the coronavirus, but commodities fought back today rather than overreact. The COVID-19 virus is said to have put Italy close to recession, though German businesses are said to still be positive. That is the problem with curr...

livestock

Stocks of Pork and Chicken Hanging Over the Market

The combined inventory of red meat and poultry in cold storage at the end of January was 2.374 billion pounds, that’s 102.4 percent of a year earlier and more significantly, 106 percent of the five-year average. Beef was 96 percent of a year ago.   The build-up came from pork an...

feed-grains soy-oilseeds wheat

Election Year Farm Payments and Formulas

Shortly after USDA announced the final tranche of Market Facilitation Payments (MFP) and noted that would almost certainly be the last of the federal checks, President Trump tweeted (in all caps): IF OUR FORMALLY TARGETED FARMERS NEED ADDITIONAL AID UNTIL SUCH TIME AS THE TRADE DEALS WITH CHINA...

Tax Tech Divide; Low Leverage on India

Tech Tax Divide G-20 finance ministers failed to make headway on the issue of high-tech company taxation and the prognosis is not good. The Czech Republic is the latest European company to debate imposing a high levy on global internet companies and its officials apparently brushed aside the th...

Do versus Say I; Do versus Say II; EU Week in Geneva

Do versus Say I Likely echoing the government’s Office of Management and Budget and an earlier interagency agreement, USDA Secretary Sonny Perdue and other officials warned that farmers should not expect a continuation of the Market Facilitation Program payments started last year in respo...

Agriculture/Environment Nexus; Europe Follows U.S.

Agriculture/Environment Nexus EU Health Commissioner Stella Kyriakides told the European Parliament this week that pesticide and fertilizer use will be reduced to respond to “citizen concerns,” which is not a good indicator of science-based standards. Meanwhile, French farmers are u...

Unilateral Everything; Not So Very Big; Ugly Bailout

Unilateral Everything  U.S. President Trump gets blamed for “America First” unilateralism but in fact it is practiced equally by all countries. Agricultural protectionism has been a dominant factor for decades and many countries extend this to fisheries and forestry. However, i...

feed-grains soy-oilseeds wheat

China's Tariff Reductions

China announced this morning a list of 696 U.S. products for which importers may apply for a tariff exemption. Importers must apply for the exemption by 2 March, with a particular volume of imports specified in the application. Import volumes above the applied for amount will be subject to the...

Partial Analysis; WTO Repeated Error; China’s Virus Problem

Partial Analysis The EU undergoes a WTO trade policy review this week in Geneva and Maria Cipollina and Luca Salvatici write in the European Review of Agricultural Economics that the trading block’s tariffs have greatly redirected agricultural imports. The pair correctly note that agricul...

India Offer to U.S.; Coronavirus and Super Tuesday; Concrete AB

India Offer to U.S. New Delhi and Washington would both like to have a trade deal by the time President Trump visits India on 24-25 February and India is making offers. According to Reuters, India has offered to reduce its tariff on chicken legs from 100 percent to 25 percent and make other con...

Fed Report: More Growth, Less Leverage

This week, Federal Reserve Board Chairman Jerome Powell delivered the first of his twice-per-year reports to Congress in testimony before the House and Senate Banking Committees. The basic message was the economy is strong, but the current range of low interest rates may mean a loss of leverage...

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