All Good

Written by SK Ashby

(Cartoonist - Stuart Carlson)

In other news, Prince Harry and Meghan Markle say they're more or less quitting the royal family and possibly moving to the United States to pursue their own careers. Good for them!

Meanwhile, payroll processor ADP says the economy added 202,000 jobs overall in December, but the manufacturing sector lost another 7,000 jobs and the hospitality industry lost 21,000 jobs.

Finally, China has suspended or cancelled the implementation of a law requiring ethanol blends in gasoline and it will have implications for American farmers who were planning to sell corn and other crops to ethanol producers who export to China.

The reversal is a heavy blow to domestic producers that have built new plants, as well as biofuel exporters, including the United States and Brazil, which were looking to benefit from growing Chinese demand.

The United States exported about 20% of its fuel ethanol to China in 2016, trade worth about $300 million that year. American shipments have since plunged to a trickle. Beijing hiked import duties on ethanol in 2017 to 30% and then added trade war tariffs on U.S. cargoes twice during 2018, amounting to another 40%.

China was expected to sharply increase imports of U.S. ethanol under Phase 1 of the recently announced trade deal, but is now unlikely to require large ethanol supplies without the mandate.

A section of "phase one" of Trump's "greatest and biggest deal ever" bites the dust before the deal is even signed.