Today, The American Feed Industry Association has updated its members on the US/ China potential trade war.

In part, AFIA's International Trade and Pet Food Committee stated in mid June, the US announced its intent to impose two sets of tariffs on $50 billion of Chinese goods in response to China's unfair trade practices related to the "forced transfer of American technology and intellectual property theft" pursuant to Section 301 of the Trade Act of 1974. China has since announced retaliatory 25% tariffs on a selection of U.S. goods. Subsequently, in response, President Trump ordered the US Trade Representatives to identify $200 billion worth of Chinese goods for an additional 10% tariffs.

The first set of US proposed tariffs on Chinese goods are set to take effect on July 6th.

China's first list of tariffs on US goods will also be implemented on July 6th.

Pet food is listed on the Chinese list of US products that will be subject to 25% tariff. The tariff is currently 4%.

Import duty will also be raised on US soybeans.

It is hoped that the US administration and the Chinese government will be able to come to a favorable settlement in time to avoid these tariffs.

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Congressman Josh Gottheimer, Former President of Exim (Export/Import) Bank Fred Hochberg, CEO John Fornazor Sr of Fornazor International and several New Jersey companies met for a round table discussion on Exim Bank. Exim is the official export credit agency of the United States, and an independent, self-sustaining Executive Branch agency with a mission of supporting American jobs by facilitating the export of U.S. goods and services. The bank fills gaps in private export financing.

The agency's future is now in question.

Please see the link for a segment on NJ TV.

http://www.njtvonline.org/news/video/rep-josh-gottheimer-hosts-roundtable-benefits-export-import-bank/

The price of soybeans seems to be trending upward following speculation on corn exports during the final two months of 2011. Corn fell to a two-month low on the speculation that the global production is rising and reduced overseas demand for the crop from the U.S. The country is still the world's largest export of corn, although, soybeans are on the rise.

Traders from Fornazor International are in St. Louis today exhibiting at the Soy & Grain Trade Summit, which is being held at the Hyatt Regency St. Louis at the Arch and runs from October 31st through November 3rd. The focus of this year's Soy & Grain Summit is to offer strategies for sustainable growth in agricultural production, processing, and transportation worldwide.

Traders from Fornazor International have arrived in Italy for the the Cremona Fiere Dairy Show. The International Dairy Cattle Show features a display of innovative equipment, technologies and services as well as numerous conferences and seminars.

Corn gluten meal is a feed ingredient which is extracted from corn kernels after the larger part of the starch and germ have been separated during the corn milling process. It is a multi-functional ingredient that is a valuable source of protein as well as the amino acid methionine. Many farmers are now incorporating corn gluten meal into their animal feed rations as a nutritional additive. It also makes a great complement to other common protein sources, such as soybean meal.

On August 27th, the International Trade Market lost one of its greatest unsung heroes, Keith Tantlinger. Tantlinger is best known for designing a new shipping container used to transport commercial goods around the globe. His simple, yet effective design features a corner mechanism which locks containers together, allowing them to be lifted by crane and stacked high on top of each other on ships.

Traders from Fornazor International will attend this year's Soy and Grain Trade Summit hosted by Soyatech at the Hyatt Regency St. Louis at the Arch, October 31 - November 3, 2011.

The annual event will offer strategies for sustainable growth in agricultural production, processing and transportation worldwide.