Uncertainty over NAFTA Impacts U.S. Business Investment
Jim Monroe, the National Pork Producers Council Senior Communications Director told FarmScape Online that uncertainty around trade agreements, such as NAFTA, are making businesses more reluctant to invest in growth opportunities both at home and abroad
by Bruce Cochrane – FarmScape Online
“We have very aggressively advocated our position on NAFTA to the administration, including the U.S. Trade representative, to the U.S. Department of Agriculture and to Congress.”
After reaching an impasse in Round 4, negotiators involved in revamping the North American Free Trade Agreement have delayed the start of Round 5 and extended the target for completing the talks.
“It is important to move through the negotiation quickly and to maintain the benefits that have been realized through NAFTA”
“We are strongly urging the administration to enhance the agreement but to maintain the benefits we’ve realized through it.”
An ad hoc coalition representing the National Pork Producers Council, the Business Roundtable, the National Association of Manufacturers, the National Foreign Trade Council, the Coalition of Services Industries and the American Farm Bureau Federation, has been raising the alarm over the negative consequences for agriculture of withdrawal from NAFTA.
“I think right now there is a certain level of uncertainty around trade in North America, between the U.S., Canada and Mexico and I think the sooner we can eliminate that uncertainty the better.”
Monroe added many American jobs depend on U.S. trade with Mexico and Canada and significant growth has resulted throughout agriculture from the deal.
“Uncertainty around trade agreements like this make businesses more reluctant to invest in growth opportunities both at home and abroad so I think the sooner we can remove the cloud of uncertainty around us right now the better.”
Monroe concluded by saying it is important to move through the negotiation quickly and to maintain the benefits that have been realized through NAFTA.
Our November 2024 Issue
In our November 2024 issue we feature FCC’s trend predictions on USA agriculture’s impact on Canada, McDonald’s E.coli crisis, Crowned Ontarios’s finest butcher, Beef industry leaders meeting to face 2025 challenges, Disappointment with Bill C-282, Rising crime in Agriculture, and much more!
