Iowa Governor Kim Reynolds is urging lawmakers in Washington to ratify the United States-Mexico-Canada Agreement (USMCA), which she says will help bring stability to her state's agriculture industry.

"Our message to Congress is to please rectify the USMCA. That'll bring a lot of certainty and predictability to the market," Reynolds told Cheddar on Thursday.

Following a year of negotiations, the USMCA was signed by President Donald Trump, now former Mexican President Enrique Peña Nieto, and Canadian Prime Minister Justin Trudeau last November at the G-20 Summit in Buenos Aires. The trade deal was meant to replace the North American Free Trade Agreement (NAFTA), which was established in 1994 and created a free trade zone between the three neighbors.

In an overwhelming vote last week, Mexico's General Congress approved the USMCA making Mexico the first country to fully sign onto the deal. The U.S. Congress and the Canadian Parliament have yet to ratify the pact.

"This is a very important advance," Mexican President Andrés Manuel López Obrador said at a press conference last week. "It is a clear sign that there is unity in the country."

Canada and Mexico are currently the second and third largest trading partners with the U.S., with total trade topping $617 billion and $611 billion in 2018 respectively, according to government figures.

The USMCA covers numerous aspects of cross-border trade, including labor laws, environmental standards, and intellectual property rights. It also has specific provisions for various sectors like auto manufacturers, digital services, and agriculture. The U.S., for instance, negotiated hard for easier access to the Canadian dairy market.

Democrats, however, have expressed concerns over weak enforcement measures on workers' rights and environmental regulations, and have refused to hold a vote on the deal in the House.

"Without real enforcement mechanisms we would be locking American workers into another bad deal. A new trade agreement without enforcement is not progress for the American worker, just a press release for the President," House Speaker Nancy Pelosi (D-Calif.) said in a statement in May. "We have been on a path to yes, but it must be a path that leads to an agreement that delivers positive results for American workers and farmers."

Nonetheless, Reynolds told Cheddar that Iowa's economy is growing, despite "some significant challenges with agricultural." Iowa is currently the second largest agricultural exporter in the U.S., with nearly 50 percent of its exports going to Canada and Mexico in 2018.

Farmers "really, really, really would like to see USMCA ratified," the Republican governor said.

Share:
More In Business
Delta CFO on Airline Mask Mandates, International Travel & Bringing Back Services
While other CEOs of Southwest and American Airlines questioned current mask mandates in front of Congress, Delta CFO Dan Janki in his exclusive interview with Cheddar, was more cautious about doing away with the safety measure. "We're right now at the beginning of another wave," he said. "This is probably not the time to change mask policy." Janki also discussed his airline's future in loyalty program pricing, international travel, meal services, and stock pricing.
Rokt CEO on $325M Fundraise, Maximizing Retail Data & Upcoming IPO
E-commerce data platform Rokt is prepping for an IPO as it comes off of a $325 million Series E fundraise, and CEO Bruce Buchanan joined Cheddar to discuss the future of his company. He explained how Rokt uses data science to optimize the consumer experience with their clients and discussed the goal to go public in 2023. "We're at a size and scale now where it's important we can give liquidity to investors, we can use the public markets to attract more talent, and we can use the public markets also to go on and acquire more businesses," he said. "We think it's about time that we do list."
Lyft Partners With Olo Commerce Platform to Tackle Food Delivery Market
Rideshare company Lyft is following its competitor Uber into the food delivery market by partnering with Olo, the on-demand commerce platform, and its dispatch network. Joining Cheddar to discuss the team-up, Olo founder and CEO Noah Glass. "Consumers will be able to place orders through the same apps and websites they go to … and see delivery as an option," he said. "And Lyft is now one of the providers who may be picking up the order on behalf of the consumer and taking it from the restaurant to the consumer." Glass also stated that Olo optimizes deliveries without adding the burden of additional fees on the restaurant side.
Chloe X Halle Talk Music and Upcoming LG Gaming Battle
Chloe and Halle Bailey are no strangers to hard work. The sisters got their start performing covers on YouTube and have become a force in the music industry. Since then, the two have spread their wings beyond their duo group to individual projects. Now they're coming together to face off in the LG OLED Ultimate Gaming Showdown. Chloe and Halle join Cheddar News to discuss.
12 Terms of 2021 - Supply Chain
Cheddar is looking back at the 12 biggest buzzwords of the year leading up to Christmas. Day 8's term is Supply Chain. Definition: (noun) a system of organizations, people, activities, information, and resources involved in supplying a product or service to a consumer.
Adobe and Microsoft Team Up to Bring 'Delightful' Productivity Tools to Workers
Software giants Adobe and Microsoft are further partnering to build synergy between their productivity tools for the digital-first workplace. Ashley Still, the senior vice president and general manager of digital media at Adobe, talked to Cheddar about the common vision between her company and Microsoft for simplifying work. "It's really important that companies make sure that the tools and applications that employees have at their disposal make their work delightful and easier," Still said in terms of how to judge the success of the partnership.
'It's Time' for Reddit to Go Public as It Files for IPO
Established more than a decade-and-a-half ago, the social news aggregation and community website Reddit, recently valued at $10 billion, is now ready to go public with a confidential filing with the SEC. Greg Martin, co-founder of Rainmaker Securities, spoke to Cheddar about one of the "original" social media companies' future prospects as a public company. "We've seen very successful IPOs from Facebook, Twitter, Pinterest, and Snapchat, in the social media arena, and Reddit is next in that line," Martin said. "So, I think it's time."
Load More