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Senate Passes USMCA

Business News/Analysis, Federal Legislation, Marketing/Markets and Sales, Opinions, Policy
January 17, 2020
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by Erin Voegele (Ethanol Producer Magazine) The U.S. Senate passed legislation implementing the revised U.S.-Mexico-Canada trade agreement on Jan. 16 by a vote of 89 to 10. The legislation will now be sent to President Trump for his signature.

The USMCA trade pact was signed by the three countries in November 2018 to replace the North American Free Trade Agreement. The U.S. House of Representatives passed the trade agreement on Dec. 19 by a vote of 385 to 41.

Once implemented, the USMCA is expected to benefit ethanol producers.

The American Coalition for Ethanol said the new agreement solidifies a multi-billion-dollar export market while providing more stable market access to farmers and instilling confidence in other nations that the U.S. is a reliable partner.

…

Cooper (Geoff Cooper CEO, Renewable Fuels Association) said that, in 2019, Canada ranked second for ethanol exports from the United States, purchasing an estimated 22 percent of U.S. ethanol exports, and ranked in the top 10 for distillers grains. Mexico was the top export market for U.S. distillers grains in 2019, importing 19 percent of all U.S. exports, and ranked in the Top 10 for ethanol exports.   READ MORE

Senate Minority Leader Chuck Schumer Voted Against USMCA On Climate Grounds (Our Daily Planet)

Senate Passes USMCA: Deal Spotlights Another Trade Victory for Trump as Gains Expected for Agriculture (DTN Progressive Farmer)

Agriculture Industry Praises Senate Passage of USMCA (Farm Journal’s Ag Pro)

Iowans: USMCA Is A Win, But Can It Boost A Struggling Farm Economy? (Iowa Starting Line)

RFA Lauds Senate Passage of USMCA (Renewable Fuels Association)

Secretary Perdue Statement on USMCA Signing (US Department of Agriculture)

USMCA trade agreement ratified by President Trump in boom for biofuels industry (Biofuels International)

 

 

Excerpt from Our Daily Planet:  Senate Minority Leader Chuck Schumer, as well as nine other Democrats including Senators Sanders, Whitehouse, Gillibrand, Harris, Markey, and Schatz, voted against the President’s U.S.-Mexico-Canada Agreement (USMCA) trade deal — Schumer rejected the pact because, “on the greatest issue facing our planet, addressing the climate crisis, the USMCA falls far too short.”  READ MORE

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