In the International Trade Commission’s analysis of the U.S. Mexico Canada Agreement, there is a projected 1.1. percent increase in exports for agricultural commodities. American Farm Bureau Federation Economist Veronica Nigh says that’s the equivalent of $2.2 billion. “When we renegotiated USMCA, we also had to give Canada more access to our dairy and sugar markets,” she says. “The analysis suggests U.S. food and ag imports would increase as well to 1.3 percent.” Other farm groups like the National Corn Growers Association don’t think the analysis fully captures the economic benefits of trade with Mexico and Canada, because it is an update of the North American Free Trade Agreement. Farm groups just want the USMCA ratified. This analysis is considered the last box the administration needs to check off before submitting legislation to Congress. “We’re looking forward to learning more about when the administration would move forward with that,” says Nigh. “Everyone would like to have the new agreement put to bed before the fall arrives.”
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