Latest news with #Cepea
Time of India
24-07-2025
- Business
- Time of India
Trump issues tariff ultimatum — if no deal by August 1, these countries will feel the heat
Deals already made: Japan, Philippines, Indonesia Live Events EU could be next – But there's tension Trump wants global tariff policy Brazil Could Suffer Big Losses South Korea exploring Japan-like deal FAQs (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel U.S. President Donald Trump has raised the minimum US tariff rate from 10% to a new range of 15% to 50%, depending on how friendly the US is with a country, says Trump at the AI summit, Washington gave countries a deadline of August 1 to make trade deals — or else they could face high tariffs, especially those the US 'hasn't been getting along with', according to the report by Yahoo made a deal with the US this week – US will apply a 15% tariff on Japanese goods, and Japan will invest $550 billion in the US, announced on Tuesday. The Philippines also reached a deal – US will charge a 19% tariff on imports from the Philippines, but the Philippines will not charge US exports deal confirmed too – US will charge 19% on Indonesian goods, and a high 40% tariff on any goods rerouted through Indonesia. Good news for US exporters: 99% of US imports to Indonesia will face no tax, as stated by Yahoo per the Financial Express report, talks with the European Union are progressing toward a deal like Japan's — with 15% tariffs instead of the threatened 30%. But the EU is ready to fight back: If no deal is reached by August 1, the EU will hit back with 30% tariffs on over $100 billion of US goods, including Boeing aircraft, US cars, and bourbon this month, Trump said 150+ countries would get letters telling them their tariffs would be 10% or 15%. Commerce Secretary Howard Lutnick told CBS News that many small countries, especially from Latin America, the Caribbean, and Africa, would likely face the lower 10% rate, as per the Bloomberg may face a harsh 50% tariff on all its products — and it's already causing panic. The US buys 42% of Brazil's orange juice exports, which is worth $1.31 billion — but with 50% tariffs, farmers may let fruit rot because it won't be worth the cost to harvest, according to the Reuters prices in Brazil have already fallen by nearly half this month — showing how Trump's policies are already shaking global markets, even before the tariffs start, Cepea index, University of São Paulo, according to the report by Yahoo Korea and the US are discussing a 15% tariff deal, possibly in exchange for a big investment pledge, like Japan did. Talks are delayed for now, because US Treasury Secretary Scott Bessent had a schedule issue, as per the Korean Finance Ministry. The deal may include South Korea buying more US products, like Boeing planes and farm goods, similar to Japan's pact, as per the Bloomberg has raised US tariffs to 15%-50% and wants trade deals signed before August 1. Countries like Japan, Philippines, and Indonesia already made deals. EU, Brazil, South Korea, and others are under pressure. If no deal is made, huge tariffs will hit global trade, and some industries are already feeling the Trump has set August 1 as the deadline for countries to sign trade deals or face 15% to 50% US far, Japan, the Philippines, and Indonesia have signed trade deals to avoid higher US tariffs.
Reuters
25-03-2025
- Business
- Reuters
Brazil faces inflation risks as surging corn prices eclipse rice plunge
SAO PAULO/RIO DE JANEIRO, March 25 (Reuters) - Brazil is set to face inflationary pressure from rising corn prices, which could overshadow a sharp drop in rice, as President Luiz Inacio Lula da Silva's administration struggles to contain public discontent over high food inflation. Corn prices in the Campinas region have surged past 90 reais ($15.80) per 60-kg bag, the highest nominal level in nearly three years, marking a more than 23% jump year-to-date, according to the widely followed Cepea index from the University of Sao Paulo. That contrasts with paddy rice prices, which have dropped below 80 reais per 50-kg bag in Rio Grande do Sul for the first time since October 2022. Rice prices have slumped due to an expected 15% rise in Brazilian production driven mainly by a recovery of Rio Grande do Sul's harvest, and improved global supply. Conversely, corn prices have climbed amid low starting stocks, robust demand from the ethanol and meat industries, and the development of Brazil's second corn crop amid weather uncertainty. "A major risk for food (inflation) is corn, the main input for poultry, pork, and cattle feed, including both meat and dairy production," consultancy Datagro said on Tuesday. Datagro expects inflation to exceed the 3% official target with a 4.5% upper tolerance band, as food prices weigh on Lula's declining approval ratings. The consultancy estimates corn's surge could push food inflation up by 1.07 percentage points over six months, with a broader impact on consumer prices of up to 0.47 percentage points. A further drop in rice prices, the fifth most significant food item in Brazil's inflation index, could help ease inflation, but the cereal has already declined 3.99% over the past 12 months, economist Andre Braz of FGV IBRE noted. Meanwhile, poultry, beef, and pork prices - which are all impacted by corn costs - have jumped 10.95%, 21.47%, and 20.22%, respectively, he stressed. ($1 = 5.6945 reais)
Zawya
10-03-2025
- Business
- Zawya
Corn firms for fourth session; soybeans, wheat rise
SINGAPORE: Chicago corn futures rose on Monday for a fourth straight session, as the suspension of U.S. tariffs on top importer Mexico eased worries over trade disruptions. Soybeans and wheat edged higher. FUNDAMENTALS * The most-active corn contract on the Chicago Board of Trade (CBOT) climbed 0.1% to $4.69-3/4 a bushel by 0116 GMT. Soybeans added 0.3% to $10.28-1/2 a bushel and wheat gained 1.1% to $5.57-1/4 a bushel. * The ongoing saga with U.S. tariffs is taking centre stage in agricultural markets. * U.S. President Donald Trump on Friday railed against what he called tremendously high Canadian tariffs on dairy and lumber, and said his administration could soon impose reciprocal tariffs on Canadian products. * A day earlier, Trump suspended the tariffs he imposed on most goods from Canada and Mexico. Mexico was the largest buyer of American corn and wheat in 2024 and the No. 2 destination for U.S. soybeans after China. * However, the U.S. is still in a trade war with top global soy buyer China. * China bought 13.61 million metric tons of soybeans in January and February, up 4.4% from the year-earlier period, according to customs data issued on Friday. * As a result of the trade war, the premium paid for soybeans in Brazil in relation to futures contracts on the CBOT rose 70% this week. * At the port of Paranagua, the soybean export premium hit 85 cents per bushel for shipment in March, the highest value since 2022, when considering the same month of shipment in the same period in previous years, according to the closely watched Cepea indicator. * Market players await the U.S. Department of Agriculture's next monthly supply/demand report on March 11. The report will consider trade policies in place when the forecasts for grains and soybeans are issued, an agency official said on Thursday. * Large speculators cut their net long position in CBOT corn futures in the week to March 4, regulatory data released on Friday showed. * The Commodity Futures Trading Commission's weekly commitments of traders report also showed that noncommercial traders, a category that includes hedge funds, increased their net short position in CBOT wheat and soybeans. * Wall Street futures sank and the safe-haven yen strengthened early on Monday as building deflationary pressures in China added to growth worries from a fading U.S. economy and a simmering global trade war.
