President Donald Trump touted his recent signing of the United States-Canada-Mexico Agreement (USMCA) in his State of the Union address. Hoosier farmers are celebrating the new trade deal.
The USMCA will replace the North American Free Trade Agreement and is expected to slightly increase real gross domestic product by about $68 billion according to the U.S. International Trade Commission.
Canada and Mexico are two of Indiana’s top global trading partners.
Indiana Farm Bureau President Randy Kron says he is happy to hear the new deal is signed.
“It just makes good sense to trade with our partners right next to us, so we need to open those markets,” says Kron. “Our farmers across Indiana and across this nation are very productive, we need markets outside of our borders.”
Of the three USMCA countries, Canada still needs to ratify the agreement.