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Finalizing trade agreements, exploring new opportunities

Photo Courtesy of Radio Oklahoma Network
The Trump Administration is seeking new markets for trade, as they try to wrap up negotiations surrounding the North American Free Trade Agreement (NAFTA). A top Administration official reiterates the significance of sound trade relations and divulges potential markets for United States agricultural products.

Chief Agriculture Negotiator, Ambassador Gregg Doud highlights the importance of updating the North American Free Trade Agreement. Doud says it is crucial for the revamped agreement to benefit U.S. agriculture.

“Our exports are somewhere in the neighborhood of $138 to $140 billion a year in U.S. Ag exports. NAFTA accounts for roughly $38  billion of that,” Doud said. “Just about whatever commodity you want to discuss, Canada and Mexico are two of the top four markets.”

Outside of NAFTA, United States trade officials are looking to enhance working relationships with Japan and southeast Asia. Officials are also searching and hoping to discover new and different markets for future opportunities.

“One of the interesting areas of conversation that we’re having is with regard to Africa. It will be interesting to see where we end up. Definitely some countries on the list in Africa that we’re taking a look at. On down the road here – next year – there will be a very, very interesting discussion with the U.K.,” Doud said.
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