Agriculture Secretary Sonny Perdue discusses the impact of USMCA on farming and the price of produce.
U.S. farmers are expected to get a big boost from growing international trade.
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Agriculture Secretary Sonny Perdue told FOX Business’ Dagen McDowell on Monday that he expects next year to be a “record year of exports,” thanks to the U.S. Mexico Canada Agreement (USMCA) and U.S.-China trade deal.
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Phase one of the U.S.-China trade deal was signed by President Trump and Vice Premier Liu He last week, and calls for China to purchase up to $50 billion worth of U.S. agriculture. The USMCA also passed through the Senate last week with $1.3 trillion in commerce with Canada and Mexico, the U.S.’s two biggest trading partners.
President Trump signs a trade agreement with Chinese Vice Premier Liu He at the White House. Wednesday, Jan. 15, 2020. (AP Photo/Evan Vucci, File)
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Along with progression in trade among other countries including Argentina, South Korea and a $7 billion deal with Japan, Perdue believes the “potential” for trade plus the work ethic of American farmers is a road map to success.
“There’s a lot of cumulative trade potential out there and our farmers are ready to go,” he said. “They love to grow things. They’d rather have that trade than aid. And they’re ready, raring to go.”
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FOX Business’ Jonathan Garber contributed to this story
