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NAFTA agreement brings much-needed certainty to Minnesota corn farmers

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Late Sunday, the United States, Canada and Mexico reached an agreement in principle on the North American Free Trade Agreement (NAFTA), renamed the US-Mexico-Canada Agreement (USMCA). The news was met with praise by Minnesota farmers.

“While we are still evaluating its benefit to American agriculture, this week’s agreement is a much-needed positive development for Minnesota corn farmers and their families,” Minnesota Corn Growers Association President Brian Thalmann said. “Both Mexico and Canada have become vital trade partners under NAFTA, so we applaud the work by the United States Trade Representative to bring this agreement to the nation’s farmers.”

Last year, the United States exported $3.2 billion of corn and corn products to Mexico and Canada, supporting 25,000 rural jobs. Mexico is the largest importer of U.S. corn, as well as the largest customer for American DDGS. Canada is the second-largest importer of U.S. ethanol, and a vital market for Minnesota farmers due to its proximity.

The U.S. Chamber of Commerce estimates that trade with Canada and Mexico supports 14 million U.S. jobs across many sectors.

Yesterday’s news follows the announcement of a new United States-Korea Free Trade Agreement (KORUS), stabilizing trade relationships with the third-largest importer of U.S. corn and DDGS.

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