Sioux Falls, SD - Today, the U.S. Senate passed the U.S.-Mexico-Canada Agreement (USMCA), ratifying the North American Free Trade Agreement (NAFTA) replacement after it was advanced by the U.S. House of Representatives in December.
The new agreement solidifies a multi-billion-dollar export market while providing more stable market access to farmers and instilling confidence in other nations that the U.S. is a reliable partner and supplier to help U.S. agriculture remain competitive in the years ahead.
ACE CEO Brian Jennings released the following statement in response to today’s announcement:
“Passage of the USMCA in Congress is welcome news to America’s farmers. NAFTA has been a success for American agriculture and the USMCA builds upon this successful trading relationship.
"Over the past 20 years, U.S. agricultural exports to Canada have tripled and quintupled to Mexico. For U.S. corn, Mexico and Canada have served as the industry’s largest and most reliable markets, and this agreement keeps the door open for related commodities, like ethanol and distillers grains.
"Although USMCA doesn’t set ethanol-specific trade provisions, its ratification positively reaffirms this long-standing relationship with markets next door as we enter into this new decade of market growth.”
For more information, please contact Katie Fletcher at 605-306-6107.