USMCA ushers in new chapter in North American trade
NAFTA is officially history, as the USMCA takes effect, marking a new chapter for trade with America's neighbors.
The United States-Mexico-Canada Agreement (USMCA) takes effect today, July 1, providing stability after years of uncertainty for the nation's farmers.
According to the Nebraska Department of Agriculture, Nebraska’s total ag exports to Canada and Mexico amount to $1.46 billion, with corn exports totaling over $402 million, ethanol at $96 million and distillers grains at $27 million. Mexico leads the way as the single country that imports the most U.S. corn and distillers grains. Canada is the No. 2 customer for ethanol and distillers grains.
Both the Nebraska Corn Board and Nebraska Corn Growers Association praise the deal.
“It’s been a rough couple of years for farmers economically, but the implementation of USMCA is something that will benefit us for years to come,” said Dan Nerud, president of NeCGA and farmer from Dorchester. “This isn’t something that just benefits corn farmers, but rather it supports all Nebraska agriculture. The state’s total ag exports to Canada and Mexico is nearly $1.5 billion. That’s substantial.”
“Through USMCA, Nebraska’s corn farmers and ethanol producers will have access to two of our top and most reliable customers,” said David Bruntz, chairman of NCB and farmer from Friend. “We’re appreciative for everyone that helped get this trade deal to the finish line, from our farmers and our local politicians all the way up to the governing bodies and leaders of each of the three nations.”
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