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 trade agreement's significant benefits to American agriculture, particularly the grain and oilseed sectors. The USMCA has been credited with enhancing supply chains, boosting competitiveness, and expanding export opportunities across North America. The NGFA described the agreement as a success that has contributed to economic growth in rural communities. The organization is advocating for a long-term renewal of the USMCA without changes to its core structure, while also suggesting
improvements in addressing 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 played a key role in strengthening the North American grain and oilseed industry, thereby supporting economic growth in rural areas. By advocating for the renewal and enhancement of the USMCA, the NGFA aims to protect and expand export markets, ensuring continued economic prosperity for the U.S. agricultural sector. Addressing non-tariff barriers could further enhance market access and competitiveness, benefiting the broader U.S. economy.
What's Next?
The NGFA has expressed its readiness to collaborate with Congress and federal officials to preserve and strengthen the USMCA. The organization is focused on ensuring that the agreement's renewal includes efforts to address trade barriers related to sanitary and phytosanitary standards and biotechnology. The outcome of these discussions and potential legislative actions will be critical in shaping the future of U.S. agricultural trade with Canada and Mexico.
