U.S. Grain Groups Prepare for New Administration
Grain associations and groups are preparing for changes to trade policies and relations that will likely come with the new government administration.
President-Elect Donald Trump has been outspoken since 2015 on his stance against the Trans-Pacific Partnership (TPP) - a trade agreement signed on February 4 of this year between 12 countries after five years of negotiations. The agreement, which was designed to ease access to goods and commodities at lower prices between member countries will need to be approved in each of the 12 signing members, however it is thought that the TPP will not advance under a Trump administration.
Passage of the TPP is expected to lift farm exports by a value of $4.4 billion each year, and the American Soybean Association and the National Corn Growers Association (NCGA) are urging Congress to make the agreement a priority of its agenda.
Meanwhile, President-Elect Trump’s pro-farmer stance in regard to the Renewable Fuel Standard (RFS) and his support for expanded ethanol production is being lauded by ag groups including the American Feed Industry Association, which met with Mr. Trump during his election campaign.