President Donald Trump says he is not looking to renew the U.S.-Mexico-Canada Agreement, raising concerns among farm groups that rely on trade with the nation’s two largest agricultural export markets. Bloomberg said Trump criticized trade deficits with Canada and Mexico and suggested the U.S. does not need goods from either country. Under the agreement, the three nations must approve a renewal by July 1 or begin a lengthy review process that could eventually lead to changes or withdrawal. Agriculture organizations are urging the administration to keep the pact in place. More than 150 farm groups have signed a letter supporting renewal, citing the economic benefits of North American trade. During a House Agriculture Committee hearing, Minnesota farmer Jamie Beyer of the American Soybean Association warned that failing to renew the agreement would be “catastrophic.” The USMCA has helped support nearly $1.6 trillion in annual North American trade.
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