The ethanol industry, which says it has lost $3.8 billion in sales since March due to the pandemic, is increasingly looking to the Biden administration for relief at the same time that farm groups want the new president to resolve the trade war with China.
According to a report at Successful Farming, a Purdue University professor said it was unlikely that President Biden, when he takes office on Jan. 20, will immediately undertake broad-scale trade reform, pointing out that “he has other priorities that take precedence.”
A dozen farm and export groups urged Biden to adopt an aggressive free trade agenda, headlined by the removal of U.S. tariffs on allies and resolution of the trade war with China. U.S. farm exports, the source of 20% of farm revenue, slumped during the dispute, but prospects are brighter this year, with China forecast to return to its role as the sector’s No. 1 customer.
Read the full report here.
