Trade is a huge deal for agriculture – particularly Illinois agriculture – but I can’t help but feel like we’ve been talking trade, trade, and more trade for more than a year!
First, we constantly lobbied Congress to help us get the Trans Pacific Partnership passed. Then, President Trump pulled us out of that potential trade agreement and even considered suspending the North American Free Trade Agreement, which would be a huge loss for ag.
Now, it seems IL Corn is spending a lot of time talking about trade and reminding the folks in power why it’s so important for farmers. In case you’ve got questions, here’s a few reminders:
- Every $1 billion in agricultural export revenue supports 8,000 jobs, according to USDA’s Economic Research Service (ERS)
- $340 Billion in economic output produced by U.S. ag exports in 2014, including $150 billion in export value and an additional $190 billion in other economic activity.
- 1.1 Million Jobs supported by U.S. agricultural exports, including 800,000 in the non-farm sector (or 73% of the total employment effect), which are required to assemble, process and distribute agricultural products for export.
- U.S. ag exports are projected to account for one-third of total farm sector gross earnings in 2017, according to the Congressional Research Service.
- 95 percent of the world’s consumers live outside the United States, while we’re producing a significant amount of the world’s food right here.
For me, maybe the most important reason why America needs to prioritize agricultural trade is that the food is here, and the hungry people are in other countries. For purely humanitarian purposes, we got to be open to ag trade – we’ve got to make it easier – in order to get the food from where it’s grown to where people need it.
Do you have questions about trade? I’d love to start a conversation with you in the comments!
ICGA/ICMB Marketing Director