Gov. Reynolds issues statement on USMCA

Gov. Kim Reynolds issued the following statement on the United States-Mexico-Canada Agreement announced Monday:

 

“I am excited to hear news of this United States-Mexico-Canada agreement.

“NAFTA has been good for agriculture, but a modernized agreement could provide better gains for Iowa farmers. Strengthening trade with Canada and Mexico provides more certainty to our Iowa farmers and the agribusinesses sector.

“I am also encouraged by agreements reached with Argentina and KORUS, by continued discussions with the EU and by reignited negotiations with Japan. Our farmers and manufacturers need access to free and fair trade to sell their products, which are among the best in the world.

“As a steadfast champion for Iowa agriculture and Iowa products, I will continue to advocate for increased opportunities to market our products around the globe. It is my hope the momentum generated today will provide more certainty for our farmers during this harvest.

“Last year, 30.58% of Iowa’s exports went to Canada and 16.94% went to Mexico, making them our two largest trading partners. Canada and Mexico were in the top five importers of Iowa manufactured goods and value-added agricultural products, and they were No. 1 and No. 2 for agriculture.”

 

Here’s what agriculture trade with Canada and Mexico means for Iowa:

  • Iowa’s trade exports with Mexico:
    • Corn: $418.8 million
    • Soybeans & Soybean Products: $220.3 million
    • Beef: $42.1 million
  • Iowa’s trade exports with Canada:
    • Corn: $26.3 million
    • Soybeans & Soybean Products: $66.9 million
    • Beef: $57.8 million  

Canada and Mexico account for 40% of U.S. pork exports (30% of U.S. pork exports come from Iowa)