SHUTDOWN IMPACTS USMCA RATIFICATION
Politico is reporting that the U.S. International Trade Commission’s (USITC) investigation into the U.S. Mexico Canada Agreement (USMCA) for trade will be delayed by 35 days, consistent with the length of the government shutdown. USMCA, sometimes called the new-NAFTA, is being investigated for its impacts before coming before Congress for consideration. The study was originally due to Congress on March 15.
Politico reporter Alexander Panetta quoted ITC spokeswoman Margaret O’Laughlin, who wrote in an email to Politico, “I can now tell you that all investigations that were ongoing at the time of the lapse in appropriations will be tolled by 35 calendar days…The commission will issue scheduling Federal Register notices for all investigations in the coming days that will provide more detailed information for each investigation. These notices will be posted on the USITC web site as they are issued."
IL Corn has prioritized the ratification of the USMCA for action this year, along with other pending trade deals. Export markets are a key component of corn farmer profitability. Specific to Mexico and Canada, they are among top markets for corn and corn-based ethanol, as well as corn-in-all-forms, which includes meat and egg exports.