World Perspectives

Recent Policy Analysis

Food Sovereignty at the Top; Recoupling EU Ag; Farm Bill 2023

Food Sovereignty at the Top EU Agriculture Commissioner Janusz Wojciechowski thinks free trade and specialization are the problems in modern agriculture. He told a conference that “Agrodiversity is very important and we will support farmers who decide not to have one direction of producti...

Pessimism Reigns

Global rules for liberalized trade such as the Uruguay Round depended upon strong U.S. leadership backed by the EU. The number of countercurrents to any return to that model are now overwhelming. China has mimicked the U.S. in using economic hostage taking to leverage more nativistic outcomes...

Imperfect Subsidies Calculation

The latest edition of the OECD’s annual report entitled Agricultural Policy Monitoring and Evaluation highlights an important problem but undermines the solution. The report notes that 54 countries provide over a half billion dollars annually in subsidies to farmers. It correctly asserts...

biofuel

Climate Crisis Panel Calls for Biofuels; Climate Activist Offers Apology for Climate Scare

The U.S. House Select Committee on the Climate Crisis issued a report, intended to be a benchmark for future climate change legislation, which recommends using the RFS to transition to a low-carbon fuel standard to expand biofuel use.  Meanwhile, a long-time climate activist disputes there...

Coming UK-U.S. Trade War

British farmers are increasingly distraught over the prospect of having to compete against American farmers under any transatlantic trade deal. They and the British public are being fed a steady stream of harrowing stories about U.S. production practices to the point that now Trade Secretary Li...

Happy USMCA Day – Enjoy it While it Lasts

On Wednesday 1 July, the new USMCA will enter into force, and potentially lead to a lot more North American trade disputes than we’ve seen in the past year. (USMCA is a  rewrite of NAFTA that President Trump ran on in the 2016 election). A number of industry groups have been pressing...

Buying Food; Ethanol and Emissions; Food System and China Buys

Buying Food USDA is forecasting that grocery prices will rise by 3 percent this year, the largest increase since 2011 and mostly due to animal proteins. That is more than three times the overall inflation rate. Five economists from four different universities analyzed household spending in resp...

Political Economics

Political economy is economics as a branch of knowledge or academic discipline; political economics is what politicians use when they need red meat rhetoric for their base of supporters. Thus, U.S. Senator Cory Booker (D-New Jersey), a vegetarian, and Senator Elizabeth Warren (D-Massachusetts),...

British Stockholm Syndrome; Imbalanced COVID Policies

British Stockholm Syndrome The UK announced a “bounce back” plan to recapture post-Brexit export share for the country’s farmers. It involves trade agreements with Japan, the U.S., and other countries. However, the British have adopted a European attitude towards food policy a...

livestock

Exports to China: Cold Storage and COVID Containment

Record Pork Draw on Cold Storage Stocks Yesterday, USDA released the monthly cold storage report. As of 1 June, inventory of pork in cold storage was 467 million pounds, 76 percent of 1 May and 26 percent of a year ago. That was a record draw down and inventory is at its lowest since 1 Septembe...

Rigged Self-Sufficiency; Glypho-ruse

Rigged Self-Sufficiency U.S. Trade Representative Robert Lighthizer shared his protectionist views with members of the House Ways and Means Committee last week by saying, “I am a firm believer that the things we need to fight the pandemic should be made in America…I’m not in...

COVID Limits DC; Calculating 3 November

COVID Limits DC Washington Trade Daily has long tracked the trade-related machinations in Washington but there has been less to follow as the city’s apparatus remains operationally remote. Prior to the COVID shutdown, its weekly curation of think tank events on trade, and economic and for...

biofuel energy

Biofuel SREs All Over Again

Small Refinery Exemptions (SREs) are back in the spotlight. As we reported in January, the 10th Circuit Federal Court of Appeals in Denver ruled that EPA went beyond its authority in granting three different small refinery exemptions (SREs) in 2016 and 2017 in a decision on a case brought by a...

Challenging COVID Subsidies; Wheat’s Weapon

Challenging COVID Subsidies There has been an increase in the use of agricultural subsidies by several countries and that is especially true as governments this year have been fighting the adverse impacts of the coronavirus. Increased subsidies by China and India have been successfully challeng...

Fire Propellant

Aiming several broadsides at Europe, fire propellant would be the term to describe USTR Robert Lighthizer’s testimony on Capitol Hill yesterday. He assured Congressional lawmakers that, “on areas of American agriculture, this administration is not going to compromise. We either have...

Trade Policy Evolution

The U.S. is staking out policy positions that will further shake up global trade policy. The latest from U.S. Trade Representative Robert Lighthizer includes: American withdrawal from OECD efforts to negotiate a common taxing structure on digital service companies. A reexamination of the no...

biofuel energy

Supplemental RVO Coming

As we’ve previously reported, EPA’s 2021 annual biofuel required volume obligations (RVO) rule has been at the Office of Management and Budget since 13 May undergoing review. That rule is likely to be issued soon, and after that the anticipated 20.17 billion gallon RIN equivalent vo...

Greens Flip on GMO’s; Surveys on China and Food

Greens Flip on GMO’s Greens have led the charge against agricultural biotechnology. They have successfully vilified the science to the point that major companies have lost billions of dollars and a relatively benign herbicide called glyphosate is banned without reason. Now a minority of G...

Monetizing Climate Change

Back in November 2018, after the release of the National Climate Assessment report (a Congressionally mandated document under the Global Change Research Act of 1990, and the fourth of its kind), WPI wrote: If the climate debate returns in earnest, this is a necessary area of more focused policy...

“Game Theory” Triangle

The British famously coined the phrase “Keep Calm and Carry On” in WWII and are renown for displaying fortitude and stoicism in the face of adversity, but they are fooling themselves in concurrent triangle of Brexit negotiations with Brussels and trade negotiations with Washington...

Monetary Policy, the Economy and COVID

The stock market rebounded partially today from a drop yesterday, which came amidst news of more COVID cases and the release of the notes from the Federal Reserve’s Federal Open Market Committee (FMOC) which sets interest rates. First, COVID.  It was to be expected that the number of...

Ethanol, Not Lockdowns

Ethanol use is up, but so are COVID-19 cases in several U.S. states and cities. Wall Street plunged on Thursday envisioning a renewed lockdown on the economy, but Treasury Secretary Steve Mnuchin pushed back saying, “we can’t shut down the economy again.” Echoing that view, va...

Policy Shorts

Tokyo Challenges Beijing: While the EU has been reluctant to join a trade war with the U.S. against China, Japan’s Shinzō Abe appears to have sided with Washington. First, he supported a G7 statement against Beijing’s new controls over Hong Kong and now he has offered the island&rsq...

Phase One Purchases; COVID and Food

Phase One Purchases Skepticism that China will meet its Phase One purchases of U.S. agricultural products is widespread and understandable. Sales thus far are just 41 percent of commitments. Yet a former USTR official involved in the Phase One negotiations is confident that China will meet its...

Food Sovereignty at the Top; Recoupling EU Ag; Farm Bill 2023

Food Sovereignty at the Top EU Agriculture Commissioner Janusz Wojciechowski thinks free trade and specialization are the problems in modern agriculture. He told a conference that “Agrodiversity is very important and we will support farmers who decide not to have one direction of producti...

Pessimism Reigns

Global rules for liberalized trade such as the Uruguay Round depended upon strong U.S. leadership backed by the EU. The number of countercurrents to any return to that model are now overwhelming. China has mimicked the U.S. in using economic hostage taking to leverage more nativistic outcomes...

Imperfect Subsidies Calculation

The latest edition of the OECD’s annual report entitled Agricultural Policy Monitoring and Evaluation highlights an important problem but undermines the solution. The report notes that 54 countries provide over a half billion dollars annually in subsidies to farmers. It correctly asserts...

biofuel

Climate Crisis Panel Calls for Biofuels; Climate Activist Offers Apology for Climate Scare

The U.S. House Select Committee on the Climate Crisis issued a report, intended to be a benchmark for future climate change legislation, which recommends using the RFS to transition to a low-carbon fuel standard to expand biofuel use.  Meanwhile, a long-time climate activist disputes there...

Coming UK-U.S. Trade War

British farmers are increasingly distraught over the prospect of having to compete against American farmers under any transatlantic trade deal. They and the British public are being fed a steady stream of harrowing stories about U.S. production practices to the point that now Trade Secretary Li...

Happy USMCA Day – Enjoy it While it Lasts

On Wednesday 1 July, the new USMCA will enter into force, and potentially lead to a lot more North American trade disputes than we’ve seen in the past year. (USMCA is a  rewrite of NAFTA that President Trump ran on in the 2016 election). A number of industry groups have been pressing...

Buying Food; Ethanol and Emissions; Food System and China Buys

Buying Food USDA is forecasting that grocery prices will rise by 3 percent this year, the largest increase since 2011 and mostly due to animal proteins. That is more than three times the overall inflation rate. Five economists from four different universities analyzed household spending in resp...

Political Economics

Political economy is economics as a branch of knowledge or academic discipline; political economics is what politicians use when they need red meat rhetoric for their base of supporters. Thus, U.S. Senator Cory Booker (D-New Jersey), a vegetarian, and Senator Elizabeth Warren (D-Massachusetts),...

British Stockholm Syndrome; Imbalanced COVID Policies

British Stockholm Syndrome The UK announced a “bounce back” plan to recapture post-Brexit export share for the country’s farmers. It involves trade agreements with Japan, the U.S., and other countries. However, the British have adopted a European attitude towards food policy a...

livestock

Exports to China: Cold Storage and COVID Containment

Record Pork Draw on Cold Storage Stocks Yesterday, USDA released the monthly cold storage report. As of 1 June, inventory of pork in cold storage was 467 million pounds, 76 percent of 1 May and 26 percent of a year ago. That was a record draw down and inventory is at its lowest since 1 Septembe...

Rigged Self-Sufficiency; Glypho-ruse

Rigged Self-Sufficiency U.S. Trade Representative Robert Lighthizer shared his protectionist views with members of the House Ways and Means Committee last week by saying, “I am a firm believer that the things we need to fight the pandemic should be made in America…I’m not in...

COVID Limits DC; Calculating 3 November

COVID Limits DC Washington Trade Daily has long tracked the trade-related machinations in Washington but there has been less to follow as the city’s apparatus remains operationally remote. Prior to the COVID shutdown, its weekly curation of think tank events on trade, and economic and for...

biofuel energy

Biofuel SREs All Over Again

Small Refinery Exemptions (SREs) are back in the spotlight. As we reported in January, the 10th Circuit Federal Court of Appeals in Denver ruled that EPA went beyond its authority in granting three different small refinery exemptions (SREs) in 2016 and 2017 in a decision on a case brought by a...

Challenging COVID Subsidies; Wheat’s Weapon

Challenging COVID Subsidies There has been an increase in the use of agricultural subsidies by several countries and that is especially true as governments this year have been fighting the adverse impacts of the coronavirus. Increased subsidies by China and India have been successfully challeng...

Fire Propellant

Aiming several broadsides at Europe, fire propellant would be the term to describe USTR Robert Lighthizer’s testimony on Capitol Hill yesterday. He assured Congressional lawmakers that, “on areas of American agriculture, this administration is not going to compromise. We either have...

Trade Policy Evolution

The U.S. is staking out policy positions that will further shake up global trade policy. The latest from U.S. Trade Representative Robert Lighthizer includes: American withdrawal from OECD efforts to negotiate a common taxing structure on digital service companies. A reexamination of the no...

biofuel energy

Supplemental RVO Coming

As we’ve previously reported, EPA’s 2021 annual biofuel required volume obligations (RVO) rule has been at the Office of Management and Budget since 13 May undergoing review. That rule is likely to be issued soon, and after that the anticipated 20.17 billion gallon RIN equivalent vo...

Greens Flip on GMO’s; Surveys on China and Food

Greens Flip on GMO’s Greens have led the charge against agricultural biotechnology. They have successfully vilified the science to the point that major companies have lost billions of dollars and a relatively benign herbicide called glyphosate is banned without reason. Now a minority of G...

Monetizing Climate Change

Back in November 2018, after the release of the National Climate Assessment report (a Congressionally mandated document under the Global Change Research Act of 1990, and the fourth of its kind), WPI wrote: If the climate debate returns in earnest, this is a necessary area of more focused policy...

“Game Theory” Triangle

The British famously coined the phrase “Keep Calm and Carry On” in WWII and are renown for displaying fortitude and stoicism in the face of adversity, but they are fooling themselves in concurrent triangle of Brexit negotiations with Brussels and trade negotiations with Washington...

Monetary Policy, the Economy and COVID

The stock market rebounded partially today from a drop yesterday, which came amidst news of more COVID cases and the release of the notes from the Federal Reserve’s Federal Open Market Committee (FMOC) which sets interest rates. First, COVID.  It was to be expected that the number of...

Ethanol, Not Lockdowns

Ethanol use is up, but so are COVID-19 cases in several U.S. states and cities. Wall Street plunged on Thursday envisioning a renewed lockdown on the economy, but Treasury Secretary Steve Mnuchin pushed back saying, “we can’t shut down the economy again.” Echoing that view, va...

Policy Shorts

Tokyo Challenges Beijing: While the EU has been reluctant to join a trade war with the U.S. against China, Japan’s Shinzō Abe appears to have sided with Washington. First, he supported a G7 statement against Beijing’s new controls over Hong Kong and now he has offered the island&rsq...

Phase One Purchases; COVID and Food

Phase One Purchases Skepticism that China will meet its Phase One purchases of U.S. agricultural products is widespread and understandable. Sales thus far are just 41 percent of commitments. Yet a former USTR official involved in the Phase One negotiations is confident that China will meet its...

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