-9999
Floor Speech
BREAK IN TRANSCRIPT
Mr. GRASSLEY. Mr. President, 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.
To summarize, the U.S. agriculture exports pie has gotten bigger, and the biggest slices have been for Canada and Mexico because of the USMCA. This means bringing home more bacon for Iowa farmers. When I mention bacon, Iowa is also the No. 1 pork producer of the 50 States.
So what I have just said to you is why it is necessary to continue the great economic environment that the USMCA has produced for the United States. In other words, it is a no-brainer to get the USMCA extended and get it done very, very soon.
President Trump needs to speak forcefully about the success of the USMCA, along the same lines of the quote that I gave you earlier in my speech. We know it is his strong position; it should be easy to restate that to everybody. His positive words will take the uncertainty out of whether this agreement will be extended, and if it is not extended, there will be great economic loss to the United States. Uncertainty doesn't help anybody's economy. Such uncertainty is holding back our economic growth.
BREAK IN TRANSCRIPT
Source