Ag News: U.S.-China Timeline
**The U.S.-China trade war is unlikely to end any time soon, according to U.S. Dairy Export Council CEO Tom Vilsack.
The former Ag Secretary tells milkbusiness.com the dispute is less about the U.S. trade deficit and more about how China does business with foreign investors.
He says foreign companies must first find a Chinese partner and that partner must have controlling interest in the Chinese portion of the business, including any cutting-edge technology the foreign company brings with it.
Vilsack says “It’s unfair, no question,” but the Chinese have political patience and “can wait two or six years.”
**Glen Smith has been named chairman and CEO of the Farm Credit Administration.
FCA has examination and regulatory authority over the Farm Credit System and constitutes the nation’s largest single provider of agricultural credit, with offices in all 50 states and assets over $350 billion.
Smith has served as a member of the FCA board, as well as a member of the board of directors of the Farm Credit System Insurance Corporation.
**Growth in the average size of farm operating loans boosted ag lending in the second quarter of 2019 according to the Federal Reserve Bank’s Agricultgural Finance Databook.
The volume of loans increased 11% over last year, the fastest second quarter growth since 2011. Operating loans continued to comprise the majority of non-real estate farm lending, up over 16%.