Chuck Grassley: “this year marks 6 years since the President and Congress approved the North American U.S.-Mexico-Canada Agreement--USMCA…”

“this year marks 6 years since the President and Congress approved the North American U.S.-Mexico-Canada Agreement--USMCA for short. It is also the year that the three countries will review the agreement and decide on its future. That 6- year review is part of the agreement itself, so it must be done. So I would like to review the USMCA's impact in the first 6 years. The agreement has really enhanced U.S. exports, so President Trump has hailed the trade deal as ``a colossal victory for [Iowa] farmers, ranchers, energy workers, factory workers, and American workers in all 50 states.'' What President Trump said there was 100 percent on target when he made that statement about the value of the USMCA to the U.S. economy. Since 2019, U.S. agriculture exports have increased by almost $35 billion, and nearly half of that $35 billion was from just two countries--Canada and Mexico. After 10 years of relative stagnation before the agreement, U.S. agriculture exports to Mexico shot up by $11 billion between 2019 and 2024 to over a total of $30 billion. Today, Mexico is the No. 1 market for U.S. corn, and around one-third of all U.S. agriculture exports go to either Canada or Mexico. Remember I said Mexico is the No. 1 market for U.S. corn? Iowa, my State, is the No. 1 producer of corn, so you know how that benefits the farmers of Iowa.”