American Farm Bureau: USMCA Signing Increases Optimism
Today’s signing of the United States-Mexico-Canada Agreement (USMCA) by President Trump increases hopes that 2020 will begin a stronger decade for America’s farmers and ranchers.
“There is definitely increased optimism on farms and ranches across America and we’re grateful for the advances, but we’re also realists eager to see results – especially for our dairy and wheat producers,” said American Farm Bureau President Zippy Duvall. “We know it will take time for the new deals to go into effect and translate into increased sales. We’re eager to get back into full swing supplying safe, high-quality food and agricultural products around the world.”
The USMCA is expected to increase agricultural exports from the U.S. by $2 billion and result in an overall increase of $65 billion in gross domestic product. Canada will increase quotas on U.S. dairy products, benefitting American dairy farmers by $242 million. Canada will also treat wheat imports the same as domestic wheat for grading purposes. Mexico has also agreed that all grading standards for ag products will be non-discriminatory. The agreement also enhances science-based trading standards among the three nations.
President Trump’s signature was the final step in enacting the agreement in the U.S. Mexico approved the USMCA last year. Canada must still ratify the pact, which is expected to occur in the next few months. The agreement will take effect 90 days after all countries have approved it.
USMCA comes on the heels of a string of trade successes. The China Phase 1 Agreement signed last month goes into effect in mid-February. The U.S.-Japan Trade Agreement signed last fall went into effect this month.
Congressman Adrian Smith
“The signing of USMCA is a major win for the United States. After more than 25 years, NAFTA needed to be modernized for the 21st century while ensuring its continued successes for Nebraska agriculture. I thank the President and his team for completing the work on USMCA and look forward to pursuing more opportunities for opening markets around the world.
NCBA: USMCA Ratification Latest Victory for U.S. Cattle Producers
National Cattlemen’s Beef Association President Jennifer Houston, who attended today’s White House signing ceremony for the new U.S.-Mexico-Canada Agreement (USMCA), today released the following statement:
“This is a great day for America’s cattle producers and we were once again honored to participate in another great victory for our industry. Of course, the ratification of USMCA comes on the heels of a game-changing new trade deal with China, a new bilateral agreement with our largest export partners in Japan, and much-improved access to the European Union.
“Add that to the new waters rule that was finalized last week, new proposed grazing regulations, and new proposed rules that would provide much-needed relief the National Environmental Policy Act, and it’s easy to see that 2020 is off to a truly historic start for U.S. beef producers. I want to thank the President and his entire team for listening to our producers’ concerns and for working with us to find real common-sense solutions.”