Tag Archives: USMCA

Senator Ben Sasse:

“The USMCA is now law  and that’s great news for Nebraska. Our farmers and ranchers deserve the certainty that this trade deal provides, and our neighbors, Canada and Mexico, are going to have it good knowing that they can buy from the very best America has to offer: Nebraska ag producers. We worked hard to get this deal across the finish line and the President and his team deserve a bunch of credit for getting this done.”

=================================================

ASA:

Members of the American Soybean Association (ASA) board of directors from five states attended the United States-Mexico-Canada (USMCA) trade agreement signing ceremony at the White House in celebration of the new treaty. ASA represents soy farmers from 30 total soy-producing states and is pleased to see the agreement signed into law.

“This final step by President Trump ensures soybean growers will maintain access to two of their top markets, and it will also support the poultry and dairy industries that are important to soy,” said Bill Gordon, ASA president and grower from Worthington, MN. Gordon continued, “We reiterate our hearty thanks to both houses of Congress, the President, and their staff who worked together to make this important deal happen.”

Gordon, Brad Doyle (AR) –pictured between VP Pence & President Trump, Bret Davis (OH), Daryl Cates (IL), and Brad Kremer (WI) joined leaders from other agriculture groups who attended the signing on behalf of their industries and who have supported USMCA as an opportunity for market certainty and continued growth.

Mexico has already acted on USMCA, and Canada’s Parliament is expected to follow the United States and approve the deal in the coming weeks. The deal is expected to take effect later this year after additional procedural steps.

===================================

NCGA:

National Corn Growers Association President Kevin Ross today declared President Trump’s signing of the new United States-Mexico-Canada Agreement (USMCA) a big win for American agriculture. Mexico and Canada are the U.S. corn industry’s largest, most reliable market; 21.4 million metric tons of corn and corn co-products, valued at $4.56 billion, were exported to Mexico and Canada in 2018. The signing follows overwhelming Congressional support for the trade deal.

=======================================

Congressman Roger Marshall:

“This signing represents the continued work being done by the Trump Administration on behalf of America’s farmers, ranchers, and small business owners,” said Dr. Marshall. “This marks yet another major promise kept by this President and a huge step forward in fairer and more reciprocal trade between these three countries. This agreement will bring long-term stability for Kansas agriculture, and not to mention, millions of dollars in new trade opportunities that will result in thousands of Kansas jobs.”

====================================

NPPC:

National Pork Producers Council (NPPC) President David Herring attended today’s signing ceremony, as well as seven other NPPC board members: Scott Hays (Missouri), Dale Reicks (Iowa), Duane Stateler (Ohio), Lori Stevermer (Minnesota), Kraig Westerbeek (North Carolina), Terry Wolters (Minnesota) and Russell Vering (Nebraska).

“USMCA provides U.S. pork producers with certainty in two of our largest export markets and we thank President Trump and his administration for making USMCA a top priority,” said Herring, a hog farmer from Lillington, N.C. “We look forward to implementation of a trade deal that preserves zero-tariff pork trade in North America.”

In 2018, Canada and Mexico took more than 40 percent of the pork that was exported from the United States and a similar volume is expected in 2019. U.S. pork exports to Canada and Mexico support 16,000 U.S. jobs.

=================================================

 

The U.S. signing of the U.S.-Mexico-Canada Agreement Wednesday clears another hurdle towards implementation of the agreement. Following the signing ceremony, the U.S. and Mexico await approval by Canada, whose government is beginning the process this week.

Canadian Deputy Prime Minister Chrystia Freeland introduced a motion in the nation’s House of Commons to consider the agreement. USMCA replaces the North American Free Trade Agreement. Freeland and Canada call the trade pact either the CUSMA, putting Canada first, or “the new NAFTA.” Freeland asked Canadian lawmakers to “work together to put Canada and Canadians first, and get this important work done without undue delay.”

Freeland noted during a press conference the trade agreement received bipartisan support in the U.S. in a “highly polarized” political climate. USMCA, welcomed by U.S. agriculture, protects critical markets for U.S. farmers, and provides an additional $2 billion in agricultural exports to Canada and Mexico, the top trading partners of the United States.

Higher corn, lower beans & wheat.  Corona Virus…what effects will it have on the markets.  Real and its marketing tools compared to us.  Chinese New Year.  How is that playing a tole on the markets?  Livestock-no early cash trade.  Struggle in the markets yesterday.  USMCA, cash cattle, stock markets…all playing in to the market trade.

White House and administration officials confirmed to CNN that the president will sign the U.S.-Mexico-Canada Trade Agreement on Wednesday.

The new agreement was one of the president’s biggest priorities during his term and was passed out of Congress just days before the impeachment trial began. Trump is expected to tout this agreement as an important highlight during the 2020 presidential campaign, especially in the swing states that will see a lot of benefits from the pact. For example, the agreement opens the Canadian dairy market to U.S. farmers, something Trump is likely to point out in dairy-heavy states like Wisconsin.

During a speech at the American Farm Bureau’s National Convention, Trump told attendees that the agreement will “massively boost exports for farmers, ranchers, growers, and agricultural producers.” The deal was originally signed by leaders of all three countries back in November of 2018. However, the text was later changed after months of closed-door negotiations between House Democrats and the Trump Administration.

The updates added additional labor protections and got rid of controversial patent protections for certain drugs.

Canada will consider the passage of the U.S.-Mexico-Canada Agreement next week. Prime Minister Justin Trudeau told reporters this week, ”On Monday, we will introduce a Ways and Means motion, and on Wednesday we will table legislation to ratify the deal.”

The comments were part of a press conference detailing plans for Canada’s Parliament, which returns to work next week. Trudeau says, “We are going to make sure that we are going to move forward in the right way, and that means ratifying this new NAFTA as quickly as possible, but responsibly in the House of Commons.” Canada is the last of three nations to take action on the agreement.

Mexico has already ratified the agreement, and the U.S. has one final step to ratify the agreement, being President Donald Trump’s signature. The USMCA, or CUSMA, as it’s known in Canada, is estimated to be worth an extra $2 billion annually in exports for U.S. farmers.

The U.S. Senate Wednesday put its finishing touches on the U.S.-Mexico-Canada Agreement. Senator Chuck Grassley, chair of the Finance Committee and Senate President Pro tempore, signed the agreement, the final step before the agreement heads to the White House.

President Donald Trump was previously expected to sign the agreement sometime this week. The ceremony Wednesday signals the end is close after the nearly three-year process of renegotiating the agreement, then further negotiations to gain U.S. congressional approval. President Trump, in January 2017, announced his intention to renegotiate the North American Free Trade Agreement. The trade talks started in May of that year. A deal was reached in September of 2018 between the U.S., Mexico and Canada.

Senator Deb Fischer, a Republican from Nebraska who attended the ceremony Wednesday, says she is “proud that this critical trade agreement has finally come across the finish line.” President Donald Trump told the American Farm Bureau Federation on Sunday, that USMCA, and the agreement with China, “are just the beginning,” as his administration seeks more trade agreements.

VIDEO: President Donald Trump Speaks about USMCA at the Recent Farm Bureau Convention

WASHINGTON, D.C. – U.S. Senator Deb Fischer (R-Neb.), a member of the Senate Agriculture Committee, today joined Senate President Pro Tempore Chuck Grassley (R-Iowa), as well as Senate Agriculture Committee Chairman Pat Roberts (R-Kan.) and several other of her Senate colleagues, for the Senate signing of the bipartisan United States-Mexico-Canada Agreement (USMCA) Implementation Act.

Senator Fischer’s full remarks:

 

I just want to thank Chairman Grassley.  He has been very tenacious on getting this agreement done.

 

And the other guy who has been tenacious for a number of years is Chairman Roberts.

 

To have them both chair these important committees and be able to continue to advocate for trade agreements, which are so important for our states, has been tremendous.  

 

Thanks to the president for sticking with this, for keeping his words.

 

And thank you to Ambassador Lighthizer, because he really pushed on this as well and was able to get it across the finish line. 

 

This is a remarkable achievement—to be able to have a bipartisan trade agreement that passed overwhelmingly in the United States Senate.

 

Agriculture is the economic engine of my state, of Nebraska.

 

One in four jobs are directly related to production agriculture.

 

54,000 jobs are related in Nebraska to exports.

 

$13.8 billion in economic activity from my state is related to agriculture.

 

To be able to have these kind of agreements, whether it is USMCA or a trade agreement with China or a great agreement now with Japan that we have and now we are looking over into the UK and the EU, and really all across the globe, in order to find more customers for the great products that we produce.

 

Whether it’s in ag, manufacturing, or small businesses, families and communities across Nebraska are going to benefit from all of these trade agreements.

 

I’m just really proud of the work we have been able to do in working together with the administration and with my great colleagues here in the United States Senate in order to get these agreements done, and especially the USMCA, with our top two trading partners, Mexico and Canada.

 

Thank you.

Phil Hogan, the new Trade Commissioner for the European Union, was in Washington, D.C., last week and spoke about the tense relationship between the EU and the U.S. The New York Times says Hogan promises to “robustly defend” European interests as he justified the European position on trade disagreements with the U.S. over airplane subsidies, digital taxes, and the World Trade Organization.

He criticized American officials for being inaccurate in claiming that trade between the U.S. and EU was unbalanced, while also saying America’s aggressive use of tariffs against trading partners was “hardly sensible.” His comments came as the U.S. is considering the use of new tariffs against the European Union trading bloc.

However, Hogan ruled out the possibility of a three-way trade relationship between the EU, the U.S., and the United Kingdom in a post-Brexit world. U.S. Commerce Secretary Wilbur Ross tells Fox Business News that sealing the phase one trade deal with China and congressional passage of USMCA boosts the U.S. negotiating stance with Europe. “Our position is infinitely better already just because of these two deals,” Ross says.

Crazy week of reports.  From the January 10th report, Phase One, USMCA…but still beans had a rough week.  Shows volatility & one needs to be prepared.  Last 60 days we have been in a tight range.   Ethanol margins remain tight…China even mentioned ethanol in Phase One.  South American weather & current harvest.  Hogs could see the boost from the trade deals.  There is money to be made in the cattle market right now.

Why have the markets been down so much since the phase one trade deal came out? What are some of the details of the trade deal that you found encouraging? Are there parts of the trade deal that concern you? What does the market focus on now going forward?
How does the corn export demand look? How does the corn ethanol demand look? What does it take to turn the market back higher?