A study from the Nebraska Farm Bureau finds withdrawal from the North American Free Trade Agreement (NAFTA) could cost farms in the state up to $55,000 each, annually. The report identifies the 2016 export value of individual Nebraska agriculture commodities to both Canada and Mexico. Analysis in the report also assigns a dollar value of NAFTA on a unit basis …
USDA Emphasizing Trade Expansion
Ted McKinney, the new USDA Undersecretary for Trade and Foreign Agricultural Affairs, has been busy since being sworn in. He’s visited India, Brazil, Colombia, and Panama recently with the goal of increasing trade opportunities. Capital Press Dot Com says the U.S. Department of Agriculture (USDA) is putting a new emphasis on generating more trade opportunities overseas for American agriculture. Ag …
Mexican Ambassador: 50% Chance NAFTA is Terminated
The Mexican Ambassador says there is a 50-50 chance that the North American Free Trade Agreement (NAFTA) will be “terminated.” Geronimo Gutierrez says there are tensions hanging over the three sides in the negotiations and that’s creating an air of uncertainty. The Hill Dot Com says despite that, he still thinks a deal to update the agreement can be done …
Trump Talks Trade with Senators
Several pro-trade Republicans met with President Donald Trump on Tuesday to discuss trade. Their goal was to let the president know on a face-to-face basis how important the North American Free Trade Agreement is and to keep negotiating. U.S. officials have taken a hard-line stance in the negotiations with Canada and Mexico, causing concern that the talks could fall apart …
NAFTA Has Been Good for Peanuts
The U.S. exported more than $12 billion of agricultural products to Mexico last year, including over 82,000 metric tons of peanuts. According to a story from Tyron Spearman, Mexico now ranks the number two buyer of U.S. exports, and overall NAFTA has been good for the peanut industry. NAFTA Has Been Good for Peanuts Sponsored ContentCIR Agriculture Harvester ProductsNovember 1, …
U.S. Rice Production Down, Prices Up
Rice production in the United States is down 20 percent compared to last year, while futures prices for the commodity are up 30 percent from a year ago. Online source World-Grain reports the drastic reduction largely was the result of reduced planted and harvested area as rice lost acreage mainly to soybeans and cotton. Rice prices were dropping in March …
Korea Submitting Plan to Renegotiate KORUS
South Korea trade officials announced Monday the government will submit a plan to renegotiate the U.S.-Korea Free Trade Agreement (KORUS) to the nation’s National Assembly government body. South Korea’s Trade Minister met with officials from 20 ministries and government regarding KORUS, and the plans to renegotiate the trade agreement. A senior trade official told the Korea Herald newspaper: “We hope …
Ag State Lawmakers Voice Concern Over Possible NAFTA Withdrawal
Ag State lawmakers continue to voice strong concern, even worry, that the U.S. may pull out of the North American Free Trade Agreement (NAFTA), with dire consequences for home-state farmers and ranchers. The latest Department of Agriculture export forecast shows the importance of Canada and Mexico as the U.S.’s second and third-largest markets, respectively, and Secretary Sonny Perdue hails both, …
USGC, NCGA Reiterate Support for KORUS, NAFTA
Leadership from the U.S. Grains Council (USGC) and National Corn Growers Association (NCGA) last week spent time in South Korea and Mexico to talk trade. The two organizations met with customers and government officials during what they call a period of policy uncertainty in the U.S. corn industry’s top markets. Mexico is the top purchaser of U.S. corn, while South …
NAFTA May be Nearing Breaking Point
Forbes speculates that the North American Free Trade Agreement (NAFTA) negotiations may be reaching a breaking point. Little progress has been made in previous talks as the U.S. continues to push a hardline stance that the governments of Canada and Mexico aren’t going to accept. Last week, a government official from Mexico left a meeting with the Trump Administration with …