March 19, 2026
U.S. and Ecuador Formalize Reciprocal Trade Agreement
On March 13, U.S. Trade Representative (USTR) Jamieson Greer and Ecuadorian Minister of Production, Foreign Trade and Investment Luis Alberto Jaramillo met and officially signed the United States-Ecuador Agreement on Reciprocal Trade. This announcement formalizes the framework agreement that was initially agreed to by the two countries last November. Under this agreement, the U.S. will provide Most-Favored-Nation (MFN) tariff treatment to certain qualifying good from Ecuador that cannot be grown, mined, or naturally produced in the U.S., including cut flowers and other floriculture products. USTR stated that the MFN tariff treatment will take effect by the later of August 1, 2026, or entry into force of the agreement. You can find the full details and text for the agreement between the two countries here as well as the Joint Statement on Framework for U.S.-Ecuador Agreement on Reciprocal Trade here. You can read the full tariff schedule here and formal fact sheet here.
House Ag Committee Advances 2026 Farm Bill with Bipartisan Support
Starting March 3, and lasting until the early hours of March 5, the House Committee on Agriculture held a Full Committee markup of H.R. 7567 —the Farm, Food, and National Security Act of 2026. The text similarly resembled that of the 2024 version of the farm bill that was marked up and passed out of Committee in the last Congress. Republicans voiced strong support for bill and toted the package as bipartisan, budget-neutral legislation that continues to build upon the improvements made by the One Big Beautiful Bill Act (P.L. 119-21) as well as the need to reauthorize a new five-year farm bill to provide certainty for farmers and rancher across the country. Democrats expressed frustration over the lack of bipartisan dialogue prior to the release of the base text and largely criticized changes made to the Supplemental Nutrition Assistance Program through the reconciliation process last summer, the Trump Administration’s trade policies, and the U.S. Department of Agriculture proposed reorganization. Other topics frequently discussed included specialty crop producers, disaster assistance, agricultural research, pesticides, conservation management, animal welfare, land-grant institutions, and rural community development. After a collective 22-hour markup, the bill was ultimately approved by the Committee as amended and favorably reported to the House floor along a 34-17 vote with bipartisan support. Chairman Glenn “GT” Thompson (R-PA) and his Republican colleagues were joined by 7 Democratic Committee members in voting in favor of the bill. Those Democratic members included Rep. Jim Costa (D-CA), Sharice Davids (D-KS), Don Davis (D-NC), Gabe Vasquez (D-NM), Adam Gray (D-CA), Kristen McDonald Rivet (D-MI), and Josh Riley (D-NY). The rest of the Democrats on the Committee, including Ranking Member Angie Craig (D-MN), voted against the bill’s passage. Now, Chairman Thompson looks towards House Republican leadership to try and secure floor time in hopes of advancing the bill to the Senate in a timely manner. You can watch the full markup here.
Supreme Court Issues Ruling Overturning IEEPA Tariff Authority
On February 19, the U.S. Supreme Court released their opinion on the highly anticipated Learning Resources v. Trump case, generally overturning the President's use of International Emergency Economic Powers Act (IEEPA) for tariff authority. The decision was 6-3 with Justices Alito, Thomas, and Kavanaugh dissenting. Shortly following the decision, President Trump invoked Section 122 of the Trade Act of 1974 to impose a global tariff rate of 10%. Following the initial announcement, President Trump posted on Truth Social announcing the global tariff rate will be increased to 15% effective immediately, although related details and parameters are still forthcoming and yet to be confirmed through official documentation from the Administration. This authority is to address a “large and serious balance-of-payment deficit” and can stay in effect for no more than 150 days unless Congress authorizes an extension. Certain agricultural products are exempted, including beef, tomatoes, and oranges according to the executive order (EO) released on February 20. It also states that natural resources and fertilizers that cannot be produced in sufficient quantities to meet domestic demand are exempted. Section 232 and Section 301 tariffs are still in place. See the EO here. See the fact sheet here. See the Supreme Court majority opinion here.