President Donald Trump is making good on his promise to get deals done that will boost confidence, provide certainty and unleash optimism across farm country, said Senator Joni Ernst (R-IA), a member of the Senate Committee on Agriculture, Nutrition and Forestry and Chairman of the Rural Development and Energy Subcommittee.
“Mexico, Canada and the U.S. make up one of the most competitive and successful regional economic platforms in the world,” Ernst said. “I’ve been pushing the Administration to finalize pending trade deals, and they have done just that; I look forward to reviewing the deal in full and understanding its impact on Iowa’s economy including manufacturing and other industries.”
Ernst said Monday’s announcement from the Trump Administration of the United States-Mexico-Canada Agreement (USMCA), a renegotiation of the 24-year-old North American Free Trade Agreement (NAFTA), will allow farmers to see increased market access and updated regulatory standards that will strengthen trade and foster a more fair trade environment.
A press release from Senator Ernst touted a number of advantages for U.S. agriculture in the new trade pact that, if approved, will replace NAFTA.
“Specifically, food and agriculture will trade more fairly, including dairy and wheat,” the press release noted. “Canada will eliminate its “Class 7” program that allows low-priced dairy ingredients to undersell U.S. dairy products in both Canada and other developing countries. Canada also will provide equal treatment when assessing the quality of imported wheat.”
“The new agreement sets unprecedented standards for agricultural biotechnology, establishes commitments to reduce trade-distorting policies and enhances rules for science-based sanitary and phytosanitary measures.”