Trump Questions Future of USMCA as Farm Groups Push for Renewal

President Trump said he is not looking to renew USMCA, raising concerns among farm groups that rely on trade with the nation’s two largest agricultural export markets.  Bloomberg said Trump criticized trade deficits with Canada and Mexico and suggested the U.S. does not need goods from either country.  Under the agreement, the three nations must approve a renewal by July 1 or begin a lengthy review process that could eventually lead to changes or withdrawal. 

American farm organizations are urging the Administration to keep the pact in place  More than 150 Ag groups have signed a letter supporting renewal, citing the economic benefits of North American trade.

During a recent House Agriculture Committee hearing, Minnesota farmer Jamie Beyer of the American Soybean Association warned that failing to renew the agreement would be “catastrophic.” The USMCA has helped support nearly $1.6 trillion in annual North American trade.

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