America’s Farmers Need USMCA More Than Ever

Summary

The video examines the critical importance of USMCA for struggling American farmers, focusing on corn exports to Mexico. Iowa farmer Stu Swanson warns that losing the trade agreement would double corn carryouts and devastate prices. CoBank CEO Tom Halverson notes the 600% growth in agricultural exports to Canada and Mexico since NAFTA and argues that a long-term renewal is essential for investment certainty. The segment also touches on farmer hardships, the US-China trade fallout, and the need for new trade deals beyond USMCA.

• U.S. farmers face severe financial stress, with many operations cash-negative and losing financing.
• USMCA has shifted export reliance from declining China business to booming Mexico and Canada markets.
• Since NAFTA's inception, U.S. agricultural exports to Canada and Mexico have grown roughly 600%.
• Mexico is the number one destination for U.S. corn, taking 6.5% of total production.
• Farmers seek a 16-year USMCA renewal for certainty; annual reviews would fail to resolve investment uncertainty.
• Trade disputes with China have frozen soybean orders; farmers hope for new deals to replace lost markets.
• The farm crisis has led to suicides and consolidation; policy changes including domestic use investments are proposed.