Ag News: Tariffs on EU Exports to U.S.
**European farm products headed to the U.S. will soon be hit with a new 25% WTO-approved tariff.
The WTO handed down a ruling last week allowing the U.S. to hit European countries with $7.5 billion worth of annual tariffs in retaliation for damages done by subsidies given to Airbus.
Meanwhile, as a result of its victory over U.S. subsides for Boeing, the EU is preparing to hit U.S. with new tariffs on things like soybean oil, orange juice, cherries, wine, grapes, sweet potatoes, some nuts, and grapefruit.
**USDA Deputy Under Secretary Scott Hutchins announced the National Institute of Food and Agriculture has invested $11 million for specialty crop research.
This investment comes through the Minor Crop Pest Management
Program and enables crop protection technology often designed for field crops, but equally safe, effective and economical for growers of specialty crops, including fruits, vegetables, tree nuts, dried fruits, horticulture, and nursery crops.
**Russian President Vladimir Putin says China is ready to buy as much soybeans from Russia as it can produce, but Moscow does not currently the capacity to meet the full demand from the world's top soy importer.
Putin says they are ready to buy from us as much as we can produce, but we’re not ready for such volumes.
His comments come amid the U.S.-China trade war, which resulted in Beijing imposing tariffs on U.S. soybeans.