President Trump’s new approach to trade may have some positive benefits for agriculture. Purdue’s Assistant Dean of Agriculture, Dr. Jason Henderson, says the move from multi-lateral trade agreements to bi-lateral trade deals by the Trump administration is not really a surprise, “Multi-lateral deals have been hard to get, so moving to a single country trade deal makes sense.”
He told HAT the What’s in it for America approach to re-write NAFTA and for pursuing other trade agreements can be beneficial for farmers and might solve some of the current trade problems facing agriculture, “’How do we best position American producers and American agriculture to participate in global trade’ is a good way to focus our trade negotiations.” He added that making sure foreign consumers recognize the quality and value of U.S. products is good for American farmers and workers.
Yet, he told a capacity crowd at Commodity Classic that it will be important to proceed with caution. He said any disruption of trade or the start of a trade war would have unfortunate consequences even for a global market like commodities.