U.S. agriculture would be devastated if the U.S. pulls out of NAFTA

U.S. agriculture would be devastated if the U.S. pulls out of NAFTALegislative Watch: NAFTA withdraw concerning for ag groups; reorganizations of Codex office and GIPSA-AM paused and Cruz puts a hold on Northey nomination.P. Scott Shearer 1 | Nov 03, 2017 Withdrawing from the North American Free Trade Agreement would be devastating to U.S. agriculture was the message a group of 86 farm organizations and agribusinesses delivered in a letter to Secretary of Commerce Wilbur Ross. The group says, “We are sadly confident that issuance of a notice of withdrawal from NAFTA would trigger a substantial, immediate response in commodity markets as the market-specific focus would turn to a scheduled return to trade-prohibitive tariff rates. Contracts would be canceled, sales would be lost, able competitors would rush to seize our export markets, and litigation would abound even before withdrawal would take effect.”One of the reasons for the letter is the growing concerns in agriculture of the administration’s NAFTA strategy after recent comments by U.S. Trade Representative Robert Lighthizer and Ross. Lighthizer says, “If we end up not having an agreement, my guess is that all three countries will do just fine. There’s a lot of trade. There’s a lot of reasons to trade.” At a recent event in Washington, D.C., Ross says, “As far as I can tell there is not a world oversupply of agricultural products.” He called the potential dangers of a NAFTA withdrawal to food producers an “empty threat.”

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