Afternoon Coffee: Trump Speech Has Few Details on Trade, Tariffs, Infrastructure; Farm Bankruptcies on the Rise, WSJ says

In his State of the Union address Tuesday night, President Donald Trump hit on issues important to supply chain professionals but broke no news about any developments, Supply Chain Dive reports.

The four main issues that the Dive was following were an update on trade negotiations with China; a call to approve the U.S., Mexico, Canada Agreement (USMCA); a call for approval of the United States Reciprocal Trade Act (a new bill that would give the president more power on tariffs); and a call for investments in infrastructure.

He did offer some insight on his infrastructure goals, without mentioning specific industries for investment.

"I know that the Congress is eager to pass an infrastructure bill — and I am eager to work with you on legislation to deliver new and important infrastructure investment, including investments in the cutting-edge industries of the future," he said.

Farmers Hit by Trade, Tariffs

Many farmers across the Midwest face bankruptcy when confronted with trade disputes, tariffs and low commodity prices that have weighed on them for years, the Wall Street Journal reports.

“Throughout much of the Midwest, U.S. farmers are filing for chapter 12 bankruptcy protection at levels not seen for at least a decade,” the Journal reports after reviewing federal data.

GM Rebounds After 2017 Loss

General Motors reported a 2018 net profit of $8.1 billion after it lost $3.9 billion in 2017 due to a tax accounting charge, the Associated Press reports.

 

 

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