Farm Bureau Quick Ratification of Trade Agreement
The Montana Farm Bureau is urging Congress to ratify the U.S. Mexico-Canada Trade agreement. The trade relationship with Canada and Mexico is critical to American farmers. In 2018, food and agricultural exports to Canada were $20.6 billion, and $19 billion to Mexico. This makes Canada and Mexico the top two food and agricultural export markets for the United States.
“President Trump and his Administration have done a great job updating the North American Free Trade Agreement (NAFTA) to be beneficial,” said MFBF President Hans McPherson. “The USMCA will benefit agriculture exponentially. The U.S. exported $40 billion worth of farm goods to Canada and Mexico last year.”
McPherson noted the top Montana agricultural exports to USMCA countries include $80 million oilseeds and grains; $66 million, cattle; and $19 million grain and oilseed milling products. It’s been estimated the U.S. Mexico-Canada Agreement would likely raise U.S. GDP by $68.2 billion annually, increase agricultural and food exports by $2.2 billion annually; and expand market access into Canada and Mexico.
“Canada and Mexico are not only in the top five of our trading partners, but they are our neighbors. Let’s not let partisan politics hurt this trade agreement,” McPherson said.
The American Farm Bureau has been working hard to see the USMCA ratified. American Farm Bureau President Zippy Duvall added, “The farm economy is reeling from the trade war combined with weather challenges and six years of lower farm income. Farmers want and need a better trade outlook and passing USMCA is a great step forward.”