Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211

advertisements
   
   
   
   
   
   
   
   
   
   

Agricultural News


The Trouble with China - NCBA's Kent Bacus Supports Washington's Game of Hard Ball with Beijing

Fri, 12 Oct 2018 11:14:37 CDT

The Trouble with China - NCBA's Kent Bacus Supports Washington's Game of Hard Ball with Beijing


It has been obvious that China, down through the years, has been a very tough customer to deal with when it come to agricultural exports. In the case of beef, we have only just returned to the Chinese market after being shut out since the Cow That Stole Christmas in 2003 about one year ago. Kent Bacus with the National Cattlemen’s Beef Association said in a recent conversation with Radio Oklahoma Ag Network Farm Director Ron Hays that he fully understands what the Trump Administration is trying to accomplish in the trade war it has been waging against China- attempting to force China’s leaders to the negotiating table in an effort to even the economic playing field between the two nations. He says the use of tariffs, although not necessarily a pleasant one, has nevertheless delivered results in the past.


“It worked with Korea’s threat of withdrawing from our trade agreement. It brought Mexico to the table to renegotiate. It’s brought the Canadians to the table,” Bacus said. “With China, the US has already targeted about half of the $500 billion worth of goods we import, and China is feeling the pain. So much to the point that they’re actually scrambling to find ways to keep their currency from sliding even further.”


China has naturally responded in kind with its own tariffs levied against US goods. Based on his knowledge of the situation, Bacus is not sure that the White House will ease up on this trade war any time soon, at least not until China seriously considers making some real systemic changes to their state-run economy. In the end though, he believes both countries will eventually come together to repair trade relations and economic ties.


“China has a lot to lose here and they have a lot more to lose,” Bacus said. “I think tariffs will be effective to a point and the Administration will continue to use that leverage until China agrees to make some major changes. I think at the end of the day, both countries want to find a mutually beneficial path forward. When that happens is anyone’s guess, but we’re hoping it’s sooner rather than later.”


Listen to Bacus and Hays speak about the trouble with China and his take on the ongoing trade war, on today’s Beef Buzz.


The Beef Buzz is a regular feature heard on radio stations around the region on the Radio Oklahoma Network and is a regular audio feature found on this website as well. Click on the LISTEN BAR below for today's show and check out our archives for older Beef Buzz shows covering the gamut of the beef cattle industry today.



   



   

Hear Bacus and Hays discuss the trouble with China and his take on the ongoing trade war, below.
right-click to download mp3

 

WebReadyTM Powered by WireReady® NSI

 


Top Agricultural News

  • OSU Meat Judging Team Named National Champions at 2018 International Meat Judging Contest  Wed, 14 Nov 2018 15:21:40 CST
  • Feeder Steers and Heifers Sell Steady to Weak on Wednesday at OKC West Livestock in El Reno  Wed, 14 Nov 2018 15:12:27 CST
  • Oklahoma Grain Elevator Cash Bids as of 2:00 p.m. Wednesday, November 14, 2018  Wed, 14 Nov 2018 15:07:17 CST
  • Wednesday Market Wrap-Up with Justin Lewis  Wed, 14 Nov 2018 14:11:08 CST
  • Wednesday Afternoon Market Wrap-Up with Carson Horn  Wed, 14 Nov 2018 13:55:44 CST
  • Environmental Defense Fund, National Corn Growers Assoc Partner to Scale Conservation Holistically  Wed, 14 Nov 2018 12:05:05 CST
  • Time is Running Out as Congress is Urged to Pass a New Farm Bill with Only a Few Days Left in 2018  Wed, 14 Nov 2018 11:49:59 CST
  • USDA Stakeholder Community Writes Congress Expressing Opposition to Possible Agency Relocation  Wed, 14 Nov 2018 11:42:19 CST

  • More Headlines...

       

    Ron salutes our daily email sponsors!

    Livestock Exchange Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit P&K Equipment Tulsa Farm Show Stillwater Milling KIS FUTURES, INC. Oklahoma Cattlemen's Association

    Search OklahomaFarmReport.com

    Find more about Weather in Oklahoma City, OK

       
       
    © 2008-2018 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.