April 2020 – The American Farm Bureau Federation sees the new trade agreement for the U.S., Mexico, and Canada, as an improvement over NAFTA. Signed by President Donald Trump in late January, USMCA was predictably scrutinized and criticized for renegotiating everything from automobile parts to vegetables.
However, John Newton, chief economist for Farm Bureau, said, “USMCA, quite frankly, is an upgrade on NAFTA.” According to the International Trade Commission, once fully implemented, the USMCA is expected to lift U.S. gross domestic product by as many as 1.2 percentage points and create up to 589,000 jobs.
The deal is expected to open new markets for American wheat, poultry, and eggs, among other things in the agricultural sector. “This is a colossal victory for our farmers and ranchers,” President Trump remarked at the signing ceremony. “Everybody said this was a deal that could not be done, but we got it done.”
foxbusiness.com, 2/3/20; onenewsnow.com, 2/3/20