NASHVILLE, TN – In a tense round of global trade talks, the U.S. pressed the EU, Japan, India, Vietnam, and South Korea to lower agricultural tariffs, aiming to boost exports of corn, soybeans, and beef amid looming U.S. tariffs on steel and autos.
The EU offered to phase out tariffs on grains and wine but resisted U.S. demands for auto and sensitive farm goods, while Japan agreed to buy more U.S. corn for biofuels but fiercely protected its rice market.
India proposed tariff cuts on almonds and bourbon but shielded its 80 million dairy farmers, and South Korea explored increasing U.S. ag imports to dodge 25% tariffs.
With proposals due today (Wednesday) and USTR decisions expected in July, these negotiations will shape global food prices and U.S. farm exports into late 2025.
(SOURCE: All Ag News)