January 18, 2020 – Maryland farmers received a second round of good news this week with Senate approval of the United States-Mexico-Canada Agreement (USMCA). At a time when farmers continue to face strong economic headwinds, the agreement is expected to increase U.S. agriculture exports by $2 billion.
Congressional members representing Maryland that voted in favor of the USMCA include Senators Cardin and Van Hollen, and Representatives Harris, Hoyer, Ruppersberger, Sarbanes, and Trone.
“We commend our Members of Congress from Maryland for voting in favor of the USMCA to enhance the current state of trade relationships and support the farm economy,” Wayne Stafford, Maryland Farm Bureau President said. “We are pleased to see their dedication and ability to work in a bipartisan manner to support the livelihoods of our farmers.”
The USMCA is expected to result in a $65 billion increase in gross domestic product. Canada will increase quotas on U.S. dairy products, benefitting American dairy farmers by $242 million. Canada will also treat wheat imports the same as domestic wheat for grading and pricing.
President Trump is expected to sign the USMCA soon, the final step to enacting the agreement.
The USMCA vote comes just one day after the United States signed a new trade agreement with China, which promises to increase agricultural exports overseas by tens of billions of dollars.
Additional trade agreements worthy of attention include the U.S.-European Union negotiations, as well as an agreement with the United Kingdom as it leaves the European Union.