Members of the U.S. Senate Finance Committee today voted 25-3 in support of the United States-Mexico-Canada Agreement (USMCA), a critical step to moving the new trade agreement toward final passage in the U.S. Senate.
“USMCA will bring much-needed certainty, and real benefits to America’s farmers, workers, and businesses. Farmers are getting better and more reliable market access, which they badly need,” Senate Finance Committee Chairman Chuck Grassley, R-Iowa, said in his opening remarks.
Members of the House of Representatives in December overwhelmingly approved USMCA. The agreement is critically important to corn farmers. Mexico and Canada are the U.S. corn industry’s largest, most reliable market. In 2018, 21.4 million metric tons of corn and corn co-products were exported to Mexico and Canada, valued at $4.56 billion.
The trade agreement will next need to be approved by the full Senate which could occur as early as next week.