Hoosier Ag Groups Welcome USMCA Ratification
(stock image courtesy: USDA/Lance Cheung)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowIndiana farm organizations are welcoming the news of a trade deal that could benefit Hoosier farmers. The U.S. Senate on Thursday overwhelmingly approved the U.S.-Mexico-Canada Agreement by a vote of 89-10.
The bill heads to President Trump for his signature.
The ratification vote comes just one day after the U.S. and China signed what’s known as Phase One of a trade deal between the two economic superpowers.
The USMCA replaces the 26-year-old North American Free Trade Agreement. The new trade agreement only needs Canada’s approval to take effect after President Trump signs the three-nation pact.
“Today’s passage of USMCA is welcomed news for Hoosier farmers, especially considering how challenging 2019 was for agriculture,” said Randy Kron, Indiana Farm Bureau president. “The trade deal benefits family farms because it brings certainty to Indiana’s trade relationship with our North American partners.”
The bill received the same kind of broad bipartisan support last month when the house approved it 385-to-41.
The Senate rushed to pass the trade agreement before the expected start of the president’s impeachment trial next week.
“We’ve heard many senators say they want to get this done for American farmer, rancher and people before they dive into weeks of impeachment hearings,” said Ted McKinney, USDA Undersecretary for Trade and Foreign Agricultural Affairs and former director of the Indiana State Department of Agriculture.
Supporters of the USMCA say it removes trade barriers and reduces tariffs. According to the U.S. Trade Representative’s office, Indiana exported $13.4 billion worth of goods to Canada and $5.4 billion to Mexico in 2018.