By Rachel Cramer
Iowa farmers and pork producers are urging the U.S., Mexico and Canada to renew a massive trade agreement in the coming weeks.
The United States-Mexico-Canada Agreement (USMCA), which replaced the North American Free Trade Agreement (NAFTA) in 2020, includes a mandatory review on July 1. The three countries will decide whether to extend the USMCA for another 16 years, terminate the agreement or begin an annual review process starting in 2027, according to the Center for Strategic and International Studies.
Trade leaders from Canada and Mexico said earlier this week that they’d like to renew the USMCA through 2042. If the U.S. opts out, the USMCA will sunset in July 2036.
Bob Hemesath grows corn and raises hogs in northeast Iowa. At the World Pork Expo in Des Moines Wednesday, he moderated a roundtable with agricultural leaders in the state as board chairman of the nonprofit coalition Farmers for Free Trade.
“At a time when global competition is intensifying and market access is more critical than ever, the USMCA agreement remains a cornerstone of North America agriculture, trade and just economic impact overall,” Hemesath said. “For Iowa, that impact is tangible. Canada and Mexico account for a vast majority of our state's key export markets.”
Around 40% of Iowa’s goods are exported to the two countries, according to the Brookings Institute. The total value in 2023 was $8.9 billion with corn, soybeans, ethanol and tractors at the top of the list.
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