Trump Trade Deal Could Spark 'Renaissance' For Louisiana Agriculture
President Donald Trump signs a new trade pact -- U.S-Mexico-Canada Agreement, or USMCA -- during an event at the White House, Wednesday, Jan. 29, 2020. (Photo: Alex Brandon, AP)
By Greg Hilburn, Monroe News Star
President Donald Trump signed a new trade deal with Mexico and Canada Wednesday that could spark a "renaissance" in Louisiana agriculture, producers and politicians said.
"The bottom line is this is a huge trade deal for America and Louisiana," said Louisiana Agriculture Commissioner Mike Strain, who's been working with federal officials on the pact for years. "It has the potential to empty every grain bin and cold storage facility in the state."
President Trump celebrated the rare bipartisan victory surrounded by business leaders and lawmakers who helped shepherd the deal through Congress.
He called the new U.S.-Mexico-Canada Trade Agreement, known as USMCA, a "colossal victory" for farmers, manufacturers and the workers employed by them.
The USMCA replaces the former North American Free Trade Agreement, known as NAFTA.
“For the first time in American history, we have replaced a disastrous trade deal that rewarded outsourcing with a truly fair and reciprocal trade deal that will keep jobs, wealth and growth right here in America,” Trump said during a signing ceremony at the White House.
Louisiana Congressman Ralph Abraham, R-Alto, the only member of the state's delegation on the House Agriculture Committee, hailed the agreement as a "home run" for Louisiana agriculture and American trade overall.
Abraham's family farms in northeastern Louisiana.
"It's a phenomenal deal," Abraham told the USA Today Network Wednesday. "It's going to open up the markets in a big way."
Strain said the new deal will increase American agriculture exports to Canada and Mexico by $2 billion annually once it goes into effect during the summer or next fall.
"Louisiana benefits exponentially from that because 60% percent of all American grain exports come through Louisiana by the Mississippi River," he said.
Mexico already buys more Louisiana rice and corn than any other country, while Canada is the No. 4 importer of U.S. rice.