Trade and U.S. leadership in the global economy have been hot topics during a busy last week, including the renegotiations of the North American Free Trade Agreement (NAFTA) in Canada, opening talks in modernizing the United States–Korea Free Trade Agreement (KORUS), the World Economic Forum in Davos, Switzerland, and President Donald Trump’s State of the Union speech.
The sixth round of NAFTA negotiations ended in Montreal with no firm conclusions but with commitments to come back to the table in late February for a seventh round in Mexico City.
Free trade agreement (FTA) partners purchased half of all exports of feed grains in all forms (GIAF) in 2016/2017, according to the U.S. Department of Agriculture (USDA) trade data and analysis by the U.S. Grains Council (USGC).
The sixth round of negotiations on the modernization of the North American Free Trade Agreement (NAFTA) is happening this week, with U.S. Grains Council (USGC) staff leadership on the ground in Montreal to share the importance of NAFTA relationships to exports of U.S. coarse grains and co-products.
Negotiators from the United States, Canada and Mexico completed the fifth formal round of negotiations for the North American Free Trade Agreement (NAFTA) before Thanksgiving in Mexico City, with accelerated discussions reflecting the urgency to conclude negotiations in early 2018.
Leaders of the U.S. Grains Council (USGC) and the U.S. Soybean Export Council (USSEC) called for the continuation of strong partnerships built under the framework of the North American Free Trade Agreement (NAFTA) and other Western Hemisphere free trade agreements while at a joint regional buyers conference this month in Mexico.
The fourth round of negotiations on a revised North American Free Trade Agreement (NAFTA) began in Washington, D.C., this week with a flurry of engagement between government and industry players as tensions on all sides appeared to increase.
A statement from the U.S. Grains Council (USGC):
"The Council strongly opposes withdrawal from the U.S.-Korea Free Trade Agreement (KORUS), an action that will lead to immediate and sustained losses in sales to our third largest corn customer.
"South Korea is an example of the transformational partnership available to U.S. grain farmers and their global customers through strong trade policy and overseas market development.
As negotiators from the United States, Mexico and Canada began talks this week to modernize the North American Free Trade Agreement (NAFTA), the U.S. Grains Council (USGC) is undertaking new and creative efforts to educate stakeholders at home and abroad about its importance to the continued growth of global agriculture trade.
The Office of the U.S. Trade Representative announced this week it would begin a reexamination of the U.S.-Korea Free Trade Agreement (KORUS) by formally notifying South Korea the United States will call a special joint committee meeting to discuss the trade agreement and consider changes.
U.S. sorghum producers in Texas and Kansas are tapping into the logistical advantages of their closest international market - Mexico - during a direct sales mission organized by the U.S. Grains Council (USGC) and the United Sorghum Checkoff Program (USCP).