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ASA urges growers to contact Congress

With the U.S. the House and Senate expected to vote on U.S. Free Trade Agreements with Columbia, Panama and South Korea on Wednesday, October 12, the American Soybean Association (ASA) is urging members to contact members of Congress ASAP, urging support.

In the ASA Action Alert, the organization provides growers with key talking points.

• The three trade agreements combined represent nearly $3 billion of additional agricultural exports.

• Nearly five years of inaction on these FTAs resulted in loss of U.S. market share and forfeiture of economic growth.

• The Colombia FTA will benefit soybean farmers by immediately eliminating tariffs ranging from 5-20 percent on soybeans, soybean meal and soybean flour, and phase-out the 24 percent tariffs for crude soybean oil and refined soybean oil over 5 years. Most exports from Colombia already enter the United States duty-free, and this FTA will correct the current tariff imbalance in agricultural trade between our countries.

• The Korea FTA will increase exports of the major grain, oilseed, fiber, fruit and vegetable, and livestock products by $1.8 billion annually. The agreement offers immediate duty-free access to U.S. soybeans for crushing and to U.S. soybean meal. It also opens up South Korea’s food-grade soybean imports to the private sector.

• The Panama FTA will benefit soybean farmers by removing immediately the tariffs on U.S. soybeans, soybean meal, and crude vegetable oils.

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