Trade agreement changes could spell trouble for ag exports in ColoradoBy: The Fence Post and KDVR Denver - February 17, 2017
Days after his inauguration, President Donald Trump retracted the U.S.'s participation in the ratification of the Trans-Pacific Partnership. An agreement between 11 other countries to increase trade and lower costs of American exports to the Pacific Rim and Asian-Pacific countries, opening up market access for agricultural products.
Japan was included in the TPP negotiations, and is a key destination for agricultural exports for both the U.S. and Colorado, said Amanda Countryman, assistant professor in the department of agricultural and resource economics at Colorado State University.
"By walking away from the TPP, it will be important to find new ways to increase and enhance trade relationships with the Asia-Pacific region," Countryman said. "In this agreement, Japan had granted unprecedented market access for agriculture, which they had never done in the past."
Tension with Mexico could weigh on corn pricesBy: Iowa Farmer Today - February 22, 2017
Stronger-than-expected total U.S. corn exports have helped corn prices stay as high as they are, noted Phil Abbott, an ag economist at Purdue University.
“Take that away, and prices come back down,” he said.
Mexico accounted for about 28 percent of U.S. corn exports in 2016, and its September-December imports from the U.S. rose 16 percent from a year earlier, according to the U.S. Grains Council. Mexico’s buying power also has declined.
“With all this negative talk about Mexico and implications for the Mexican economy, the Mexican peso has depreciated substantially,” Abbott said. “That makes things like corn more expensive to Mexicans.”
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