President Donald Trump has followed through with key campaign promises related to trade policy – moves that have caused concern among grain farmers whose price is being supported by export sales. Trump withdrew the United States from the Trans-Pacific Partnership and intends to renegotiate the North American Free Trade Agreement. The U.S. Grains Council says these moves are intended to pave the way for new negotiations. However, in the short term – and coming soon after serious trade policy issues with China – they could severely curtail U.S. grain farmers’ market access globally and open up existing export markets to new levels of competition. Over the past two decades, U.S. agricultural exports to Canada and Mexico tripled and quintupled, respectively, according to the U.S. Chamber of Commerce. One in every 10 acres on American farms is planted to feed hungry Canadian and Mexicans.
The Grains Council says its leadership will continue to assess all trade policy changes by the new administration and aim to work with the Administration to maintain and expand the benefits of existing or new trade dialogues.
Source: NAFB News Service