ICGA calls for resolution to USMCA talks

According to a statement from the U.S. Trade Representative (USTR) today, President Donald Trump will not seek to renew the U.S. Mexico Canada Agreement (USMCA) for trade.

The administration wishes to “address the agreement’s shortcomings” and the trade deficits with Mexico and Canada.The USMCA will remain in force as negotiations continue and no immediate disruptions in trade are expected.

In response, IL Corn Growers Association President and Illinois farmer Mark Bunselmeyer offered the following statement:

“The U.S. Mexico Canada Agreement is the most important trade agreement we have. Mexico is the top foreign customer for U.S. corn. Canada is the number one export market for ethanol. The agreement benefits all three of our countries in important ways, but is especially significant for Illinois corn farmers, as Illinois is the largest corn exporting state in the country. Much of our corn travels on rail to Mexico. Losing access to that market would be a massive hit to the Illinois ag economy.“

ICGA would urge President Trump and the U.S. Trade Representative to build on the President's signature first term trade deal, swiftly negotiate improvements, and provide long term certainty. The farm economy is in crisis and farm families need access to these growing markets. The USMCA has worked for corn farmers, and we want to see it continue to work for us.”

July 1 was the deadline for all three countries to indicate their preferred path forward on USMCA. Since no agreement was reached, officials from all three countries will be required to discuss the agreement each year until it automatically expires in 2036. A future meeting with Mexico to negotiate new terms of trade will be held on July 20.