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CoBank report analyses USMCA trade deal

An agricultural bank report says the replacement for NAFTA has some good news for farmers, but there is more work to do.

CoBank analysts say the new agreement did not accomplish the elimination of existing retaliatory tariffs on U.S. goods imposed after the U.S. placed tariffs on steel and aluminum imports.  CoBank says those retaliatory tariffs have hit the dairy and pork industries the hardest.

CoBank’s report says meat exports to Mexico and Canada have remained steady this year despite tariffs, and U.S. poultry and egg producers will score modest gains in the Canadian market, but U.S. agriculture will have more to celebrate when an agreement on steel and aluminum is reached.