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AMERICAN FARM BUREAU ENCOURAGED BY KOREA TRADE AGREEMENT
Sep. 26, 2018
Source: American Farm Bureau Federation news release
The following statement can be attributed to American Farm Bureau Federation President Zippy Duvall:
"President Trump's approval today of the modernized U.S. - Korea Free Trade Agreement preserves a two-way trade relationship that greatly benefits America's farmers and ranchers. South Korea bought $6.9 billion worth of U.S. agricultural goods last year, making it our sixth-largest export market.
"Whether it's corn, soybeans and wheat, or poultry, eggs and meat products, our agricultural exports to South Korea are growing thanks to the U.S. - Korea FTA.
"Renewal of our trade deal with South Korea is much-needed good news and help for our farmers and ranchers as the agricultural economy struggles. Securing export markets for our products is critical, and we encourage the administration to continue to push for conclusion of other trade agreements, such as an updated NAFTA agreement with Canada and Mexico.
"Our negotiators also should continue pushing to remove barriers to U.S. ag trade in other parts of Asia. As Agriculture Secretary Sonny Perdue recently stated, now would be a good time to take a fresh look at the Trans-Pacific Partnership, an agreement that Farm Bureau has estimated would boost U.S. agricultural exports by $4 billion per year. Rejoining TPP negotiations would send a clear message to other nations, such as China, that the U.S. is serious about growing key markets for our agricultural products around the world."
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