Hoeven Statement on U.S. Reaching Deal on NAFTA Renegotiation
WASHINGTON – Senator John Hoeven released the following statement after the administration announced that it has reached a deal with Canada and Mexico on the renegotiation of the North American Free Trade Agreement (NAFTA). Throughout the negotiations, Hoeven met with the President and administration officials to press for better trade deals for the nation, particularly farmers and ranchers, as soon as possible. At meetings with the president this summer, the senator outlined the importance of the agreement with Mexico in bringing Canada to the table and getting the agreement by early fall.
“Free and fair trade will strongly benefit our economy, while also providing much-needed certainty for our agriculture producers and other exporters,” said Hoeven. “Throughout the negotiations, we’ve pressed the President and the administration to come to an agreement with both Mexico and Canada as soon as possible. We are pleased that the agreement eliminates the automatic downgrading of U.S wheat, an issue that we pressed repeatedly with the President and administration officials. We appreciate the administration’s resolve in securing a better deal for American industry and welcome Canada’s decision to join this agreement.”
Specifically, Hoeven worked to ensure that the agreement:
- Eliminates Canada’s automatic downgrade of imported U.S. wheat to feed grade and ensures grading standards and services are non-discriminatory.
Additionally, the agreement:
- Expands access to the Canadian market for U.S. poultry, eggs and dairy and eliminates Canada’s Class 6 and 7 dairy program.
- Requires 75 percent of auto content to be produced in North America in order to be exempt from tariffs, up from 62.5 percent.
- Makes needed modernizations on intellectual property, digital trade and financial services.
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