Photo Credit: Andrew Harrer/Bloomberg

President Donald Trump negotiated a new U.S.-Mexico-Canada Trade Agreement replacing NAFTA. The White House says the new agreement will update and rebalance the 24-year-old NAFTA with modern provisions to serve the interests of American workers and businesses.

“USMCA is a great deal for all three countries, solves the many deficiencies and mistakes in NAFTA, greatly opens markets to our farmers and manufacturers, reduces trade barriers to the U.S. and will bring all three Great Nations together in competition with the rest of the world,” President Trump said in a released statement. 

Iowa Republican elected officials respond:

“President Trump promised our country he would do the tough thing politically and renegotiate our trade deals that were not favorable to us and he is delivering. With Canada and Mexico as Iowa’s #1 and #2 trading partners*, this new trade agreement is good news for Iowa — and for farmers, manufacturers, and agribusinesses throughout the country. I look forward to reviewing the specifics of this trade deal in the near future and so far, see no reason why I wouldn’t vote yes on the President’s proposal,” Congressman Rod Blum (R-Iowa) said.

“Eastern Iowa knows that I am a relentless advocate in making sure our interests are represented; the patience we have demonstrated will pay dividends for our industries and family farms as trade deals are made more favorable to our interests,” Blum added.

“This trade deal is welcome news for Iowa farmers and ranchers, who for too long have suffered from the ongoing trade disputes and plummeting commodity prices. President Trump is making good on his promise to get deals done that will boost confidence, provide certainty and unleash optimism across farm country in Iowa and the rest of the U.S,” U.S. Senator Joni Ernst (R-Iowa) said.

“Mexico, Canada and the U.S. make up one of the most competitive and successful regional economic platforms in the world.  I’ve been pushing the Administration to finalize pending trade deals, and they have done just that; I look forward to reviewing the deal in full, and understanding its impact on Iowa’s economy including manufacturing and other industries,” Ernst added.

“I commend President Trump for his commitment to securing a better trade deal for America that includes both Mexico and Canada. This new deal increases market certainty for our farmers, provides strong and effective protection for American intellectual property and strengthens overall relations with our North American trading partners. I look forward to seeing the details of this new agreement. I’m optimistic for its positive impact for Iowa farmers, agricultural workers and manufacturers,” U.S. Senator Chuck Grassley (R-Iowa) stated.

Iowa Governor Kim Reynolds released the following statement:

I am excited to hear news of this United States-Mexico-Canada agreement. 
 
NAFTA has been good for agriculture, but a modernized agreement could provide better gains for Iowa farmers. Strengthening trade with Canada and Mexico provides more certainty to our Iowa farmers and the agribusinesses sector. 
 
I am also encouraged by agreements reached with Argentina and KORUS, by continued discussions with the EU and by reignited negotiations with Japan. Our farmers and manufacturers need access to free and fair trade to sell their products, which are among the best in the world. 
 
As a steadfast champion for Iowa agriculture and Iowa products, I will continue to advocate for increased opportunities to market our products around the globe. It is my hope the momentum generated today will provide more certainty for our farmers during this harvest. 
 
Last year, 30.58% of Iowa’s exports went to Canada and 16.94% went to Mexico, making them our two largest trading partners. Canada and Mexico were in the top five importers of Iowa manufactured goods and value-added agricultural products, and they were No. 1 and No. 2 for agriculture.

Congressman Steve King (R-Iowa), a member of the House Agriculture Committee, was in Des Moines today for a signing of a deal with Taiwan who agreed to a 37 percent increase of soybean purchases from the United States released the following statement:

“Today in Des Moines, the government of Taiwan confirmed its intent to increase imports of American soybeans by 37%, and I am pleased that my efforts to encourage them to do so have paid off,” King said. “As we were signing the paperwork in Des Moines with Taiwan’s representatives, President Trump announced that his efforts to negotiate an improved trade deal between the United States, Canada, and Mexico, known as the USMCA agreement, had similarly succeeded. With harvest occurring, these two announcements could not have come at a better time for American agriculture. I believe our successful ongoing efforts to increase agricultural trade with Taiwan, Canada, and Mexico easily falls within the definition of #Winning.”

Congressman David Young (R-Iowa) also weighed in:

“This is real progress and I’m eager to review the agreement to ensure it’s an improved and better deal for Iowa workers, consumers, farmers, and manufacturers. Mexico and Canada are essential partners and possess important markets for Iowa goods. I’m relieved the relationships with Canada and Mexico are preserved with the vital continuation of a three country trade pact,” Young said.

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