The Hagstrom Report says 133 food and agriculture industry groups sent a letter to President Donald Trump this week urging him to modernize the North American Free Trade Agreement, while “preserving and building on the gains that have been made.” The letter was released by the Corn Refiners Association, whose high-fructose corn syrup is a major export to Mexico. The letter notes that U.S. food and agricultural exports have produced a trade surplus for nearly 50 years. The letter says, “Consistent growth over that period of time has resulted in over $150 billion dollars’ worth of exports, which created $423 billion in U.S. economic activity in 2015.” The groups note that the market integration NAFTA has achieved has quadrupled the value of U.S. food and Ag exports to Canada and Mexico. The groups say in the letter that there are a few economic sectors that need to be addressed in the agreement and they look forward to working with the new president to reduce non-tariff trade barriers that inhibit American exports abroad.
From the National Association of Farm Broadcasting news service.
From: a href=”http://corn.org/” target=”_blank”>Corn Refiners Association
President Trump: 133 Food and Ag Organizations Ready to Work with You to Modernize NAFTA
A total of 133 organizations and companies from the food and agriculture sector, which supports more than 15 million jobs nationally, sent President Donald J. Trump a letter this week expressing their eagerness to work with his Administration to modernize the North American Free Trade Agreement (NAFTA), while preserving and expanding the gains achieved to date.
“U.S. food and agricultural exports have produced a trade surplus for nearly 50 years,” the letter notes. “Consistent growth over this period resulted in over $130 billion worth of exports, which created $423 billion in U.S. economic activity in 2015.” The letter also noted that in the 20 years since NAFTA was implemented, the market integration it fostered helped quadruple the value of U.S. food and agricultural exports to Canada and Mexico.
“With a few key sector exceptions that still require attention, North America intraregional food and agriculture trade is now free of tariff and quota restrictions….,” the letter continues. “Because of these market access gains, the food and agricultural sectors of the North American region have become far more integrated, as is evidenced by rising trade in agricultural products and substantial levels of cross-border investment in the agriculture and food sectors….[W]e look forward to working with your Administration on reducing the non-tariff trade barriers that continue to inhibit our exports to the North
American marketplace, as well as to addressing the remaining tariffs impeding access for some U.S. export sectors.”
The complete letter can be read here.
More detailed information and statics on the importance of NAFTA to the U.S. food and agriculture industry, including highlights relevant to specifics sectors, such apples, beef, corn, dairy, food manufacturing, peanuts, pork, rice, soybeans, sugar & sweeteners and wheat, are available by clicking here.