Economy and Trade

The American Farm Bureau Federation is out with some dramatic new figures on the toll fuel inflation is taking on producers and consumers.  AFBF Chief Economist Roger Cryan said the cost of growing food and fiber is soaring. “At the retail level, gasoline is up 50% from a year ago and fuel oil is up 100% from a year ago, quite a high-cost increase for farmers," with diesel up 74% from a year

Home-grilled cheeseburgers, a summer cookout staple, will cost consumers more this Independence Day weekend.  ERS said the ingredients for a home-prepared 1/4-pound cheeseburger totaled $2.07 per burger, with ground beef making up the largest cost at $1.20.  ...

According to the American Farm Bureau Federation’s Market Basket Survey, the average cost of a summer cookout for ten people is $69.68, which breaks down to less than $7 per person. AFBF Chief Economist Roger Cryan said the overall cost for the cookout is up 17% year over year, for a variety of reasons. “One o...

Creighton University’s June Rural Mainstreet Index sank into negative territory for the first time since September 2020.  Dr. Ernie Goss is co-creator of the RMI. “Inflation is a really big concern, of course, with the accompanying interest rate hikes. The Federal Reserve,...

A variety of political and economic factors, including the increased reliance on tariffs and ongoing tensions with China, have negatively impacted the growth of international trade in Washington over the past couple of years.  A new report released Tuesday by the Washington Council on International Trade, details the affect these factors have had on the state’s economy.  The repo...

June is National Homeownership month.  As part of this nationwide celebration, Rural Development is highlighting programs that can help in the effort to buy, build and repair affordable homes.  Trudy Teter with RD Washington said many people are not aware of the programs they offer.  Two tha...

Trade officials from the U.S. and Taiwan met Monday for the inaugural meeting of the U.S.-Taiwan Initiative on 21st-Century Trade.  U.S. Deputy Trade Representative Sarah Bianchi said, "This initiative will unlock market opportunities, promote innovation and create inclusive economic growth for our workers and businesses." The trade...

What will be the effects of higher interest rates on farmers and agriculture? "I'm almost gun-shy of making strong predictions in the environment we've been in, in the last couple years," noted USDA Chief economist Seth Meyer.  But he went add, "Rising interest rates in the United States strengthens the dollar, makes us a little less export competitive." ...

The U.S. has tariffs in place on over $300 billion worth of Chinese imports.  U.S. Trade Representative Katherine Tai said those duties give the U.S. significant leverage on China, making them useful when negotiating with the Asian nation. Bloom...

Over the objections of most Republicans, the House approved a USDA special investigator to monitor meat industry competition.  During last week’s 221-204 seven Republicans backed and four Democrats opposed a USDA special investigator to enforce the Packers and Stockyards Act, the anchor for a package of Ag bills. “Crack...