ND producers hope new deal will address trade imbalance

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According to the U.S.Department of Agriculture, North Dakota’s wheat production is substantially higher than last year’s drought plagued crop.

The latest estimate from the USDA said the total bushels produced in North Dakota was 363 million, which is up more than 50 percent from last year.

About 80 percent of the spring wheat has been rated as good or excellent.

The news of the state’s strong wheat crop came out just in time for the president’s big announcement on Monday.

President Donald Trump announced the new renegotiated trade deal between the United States, Mexico, and Canada that will replace NAFTA and be called the USCMCA

“I have long contended that NAFTA was perhaps the worst trade deal ever made. Since NAFTA’s adoption the U.S. racked up trade deficits totaling more than 2 trillion dollars,” said President Trump.

The president also contends that the renegotiated trade deal between the three nations will address trade imbalance.

Currently, about 10 percent of the U.S..’s annual wheat crop is imported by Mexico, and about 80 million bushels of Canadian wheat floods the U.S. market, but very little U.S. wheat is going to the Canadian market.

“We are just hopeful there will be a better situation than what we had under the NAFTA side of it with Canada, and we will see if some of those issue get resolved,” said Jim Peterson, Policy and Marketing Director ND Wheat Commission

If approved by congress  the new trade agreement will come up for review every six years.

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