U.S.-Mexico Trade Deal is Huge News for Iowa and a Monumental Step to Restore Market Certainty and Confidence for Iowa’s Farmers and Ranchers

WASHINGTON – U.S. Senator Joni Ernst (R-IA) released the following statement today, in regard to the announcement by President Trump that the United States has reached a two-way trade deal with Mexico:

“Mexico, Canada and the United States make up one of the most competitive and successful regional economic platforms in the world. Saddled with low commodity prices and escalating trade disputes, today’s announcement that the United States and Mexico have reached a two-way deal on trade is huge news for Iowa’s farmers and ranchers, and is a monumental step to help restore both market certainty and confidence across rural America.

“While I am still reviewing the deal, the President’s fulfillment of a core promise to revamp trade deals brings more certainty to our markets, more money in our pockets, and more confidence to Iowa – and American – farmers, ranchers and manufacturers.”

Background:

Mexico imports more pork from American producers than any other country and Mexico is a major destination for U.S. corn.

Iowa has approximately 87,500 farms, with more than 97 percent of them being owned by farm families. And, Iowa ranks number one in producing many agricultural products, including many of the products that have been directly affected by the ongoing trade negotiations occurring between the U.S. and countries that rely on U.S. agricultural products.  For example, Iowa is number one producing: corn, soybeans, eggs, ethanol and biodiesel.  In addition, nearly one-third of the nation's hogs are raised in Iowa and Iowa is the number one pork producing state in the U.S. and the top state for pork exports.