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Jun. 8, 2026 Source: Corn Refiners Association news release Washington, D.C.- The Corn Refiners Association (CRA), in partnership with the Agriculture Coalition for USMCA, today announced the release of a new Purdue University study, the USMCA Affordability Study: Effect of North American Trade on U.S. Food Prices, highlighting the role of the United States-Mexico-Canada Agreement (USMCA) in supporting food affordability for American consumers at a time of continued concern over rising grocery prices. The study finds that tariff reductions under North American trade agreements have helped lower food prices for U.S. households, generating estimated savings of approximately $700 per year in today's dollars--equivalent to roughly 7% of total household food expenditures. According to the analysis, every 1% reduction in tariffs on food products corresponded with an average 2.8% decrease in consumer food prices over a decade. The study also warns that without USMCA, tariffs could rise by an average of 7.4% above current levels, effectively eliminating those consumer food cost savings within 10 years. In addition to lowering costs, the agreements have supported year-round availability of certain products, expanded consumer choice, and helped develop U.S. markets for products that can only be produced seasonally in the U.S. "Food affordability remains one of the top concerns for American families, and this study makes clear that USMCA is part of the solution," said John Bode, President and CEO of the Corn Refiners Association. "By strengthening agricultural supply chains, expanding market access, and reducing unnecessary costs, USMCA has helped provide consumers with year-round access to a wider variety of affordable food products. As the joint review approaches, maintaining a strong USMCA is critical for U.S. households, farmers, food manufacturers, and rural communities." The study also underscores that lower-income households benefit most from lower food prices because food accounts for a larger share of their household spending. The report further highlights how expanded North American trade has improved efficiency and stability across agricultural supply chains and benefitted export-oriented U.S. agricultural products--such as corn and wheat--that experienced lower domestic prices as trade barriers were eliminated. "USMCA supports consumers, producers, and strong North American food supply chains," said Bryan Goodman, a spokesperson for the Agricultural Coalition for USMCA. "Preserving this trilateral agreement is essential to keeping food affordable and supply chains strong across the United States, Mexico, and Canada." The findings come as food inflation remains a leading economic concern for American consumers and as the U.S. and Mexico engage in USMCA review negotiations. CRA commissioned the study to evaluate the agreement's impact on U.S. consumers during the review process. The full study is available here. About the Corn Refiners Association (CRA) The Corn Refiners Association (CRA) is the national trade association representing the corn refining industry of the United States. CRA and its predecessors have served this important segment of American agribusiness since 1913. Corn refiners manufacture sweeteners, starch, advanced bioproducts, corn oil and feed products from corn components such as starch, oil, protein, and fiber. Tweet |
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