- The U.S. has launched a challenge to China's use of tariff-rate quotas for rice, wheat and corn at the WTO, charging that China's administration of the program breached its WTO commitments and hurt U.S. farm exports.
- The tariff-rate quotas for rice, wheat and corn were worth $7B-plus in 2015, and China would have imported up to an additional $3.5B of the crops last year if the quotas had been fully used, the Office of the U.S. Trade Representative said.
- It was the second challenge to China's agricultural policies by the U.S. Trade Representative since September and the latest in an escalating number of trade disputes between the two countries.
- ETFs: DBA, CORN, MOO, JJG, RJA, WEAT, DAG, JJA, GRU, PAGG, CROP, VEGI, AGA, AGF, USAG, WEET, FUD, TAGS, UAG, DIRT, ADZ