NAFTA Progress Promising for U.S. Soy, Livestock Exports

Renewal of the North American Free Trade Agreement, or NAFTA, is looking more promising after President Trump announced today that the U.S. and Mexico have reached an “understanding” regarding sensitive bilateral issues. That news also opens the door for Canada to return to the table and move the trilateral agreement one step closer to ratification. This is exciting news for soy growers anxious to expand existing markets and pursue new ones.

American Soybean Association (ASA) President John Heisdorffer, a soy grower from Keota, Iowa, said, “We need NAFTA and new free trade agreements to build and ensure the certainty of our markets for soy and livestock product exports. Approval of NAFTA would be a big step in the right direction for us, with the uncertainty and market loss resulting from China’s tariff on U.S. soybeans. We are hopeful that a new NAFTA agreement will set the tone for more trade agreements to come.”