01/17/2020 | News release | Distributed by Public on 01/17/2020 11:01
The Montana Farm Bureau commends Congress and the Trump administration for ratification of the U.S. - Mexico - Canada Agreement. The agreement is especially important to agricultural producers as it sets up increased free, fair and equitable trade between the three countries.
'Montana Farm Bureau has long been pushing for this agreement which will greatly benefit our state's farmers and ranchers,' said MFBF President Hans McPherson. 'Farm Bureau thanks Senator Jon Tester, Senator Steve Daines and Congressman Greg Gianforte for voting to ratify the agreement.'
The USMCA is expected to result in a $65 billion increase in gross domestic product. Canada will increase quotas on U.S. dairy products, benefitting American dairy farmers by $242 million. Canada will treat wheat imports the same as domestic wheat for grading and pricing and U.S. beef will continue to have unrestricted, duty-free access with Canada and Mexico.
President Trump is expected to sign the USMCA soon, the final step to enacting the agreement.
The USMCA vote comes just one day after the United States signed a new trade agreement with China, which promises to increase agricultural exports overseas by tens of billions of dollars.
'We are finally seeing movement on many trade fronts, and we look forward to seeing the benefits to America's farmers and ranchers as well as to consumers. It's a great day for agriculture,' McPherson concluded.
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