What's Happening?
The National Grain and Feed Association (NGFA) has voiced strong support for the complete renewal of the United States Mexico Canada Agreement (USMCA). During a Senate Finance Committee hearing, NGFA President
and CEO Mike Seyfert submitted a statement emphasizing the agreement's benefits for American agriculture, particularly the grain and oilseed sectors. The USMCA has been credited with enhancing supply chains, increasing export opportunities, and fostering economic growth in rural communities. NGFA advocates for a long-term renewal of the agreement without alterations to its core structure, while also suggesting improvements to address non-tariff trade barriers, such as sanitary and phytosanitary standards and agricultural biotechnology policies.
Why It's Important?
The renewal of the USMCA is crucial for maintaining stable trade relationships with Canada and Mexico, which are vital for U.S. farmers and agribusinesses reliant on export markets. The agreement has significantly contributed to the competitiveness and economic growth of the North American grain and oilseed industry. By advocating for a stable, long-term renewal, NGFA aims to ensure continued prosperity for rural America and the broader U.S. economy. Addressing non-tariff trade barriers could further enhance market access and support the integrated North American agricultural system.
What's Next?
NGFA has expressed its readiness to collaborate with Congress and federal officials to preserve and strengthen the USMCA. The association's focus will likely be on advocating for improvements in sanitary and phytosanitary standards and agricultural biotechnology policies to enhance market access. The Senate Finance Committee's attention to agricultural trade issues suggests potential legislative actions to support the agreement's renewal and improvement.
