More Trade Agreements on the Horizon

The American Soybean Association (ASA) recently noted that ‘trade negotiations are officially on the horizon with the European Union, Japan and the United Kingdom, continuing the momentum generated by a bilateral deal with South Korea (KORUS) and a renegotiated NAFTA agreement with Mexico and Canada, now the USMCA.”

The ASA, as well as the Wisconsin Soybean Association, hope this progress will spur on a negotiated answer to the trade war with China. While the new agreements being negotiated will help offset the loss of current exports to China, both associations hold out hope they will help encourage the Chinese to come to the bargaining table.

In its own words, the “ASA continues to emphasize the need to reach an agreement that rescinds the current tariffs and allows soy growers to begin to restore (China as a) vital, number one export market.”