The Importance Of Trade Agreements
The United States has signed free trade agreements with 20 countries – markets that consistently buy more than half of all U.S. exports of corn, sorghum, barley, ethanol, distiller’s dried grains with solubles (DDGS), corn gluten feed/meal and other co-products.
For the 2019/2020 marketing year (September 2019-August 2020), U.S. FTA partners imported 53 percent of all U.S. GIAF exports at 53.4 million metric tons, equivalent to 2.10 billion bushels.
The spread between trade to FTA partners compared to non-FTA partners has shifted dramatically over the last 10 marketing years, further demonstrating the importance of having trade agreements in place to farmers.
Negotiating additional trade agreements with countries accounting for large shares of GDP and growing populations and income bases will be important to continuing to expand market access and exports for U.S. coarse grains and co-products.
The Council represents the U.S. feed grains industry in international trade negotiations in which the United States participates.