Trade

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The Senate will likely clear the U.S.-Mexico-Canada Agreement this week, ahead of an impeachment trial for President Donald Trump, says Majority Leader Mitch McConnell.

President Donald Trump will keynote the American Farm Bureau’s annual convention Sunday in Austin, Texas, on the heels of the signing of a partial trade agreement with China, Agri-Pulse has learned.

Chinese Vice Premier Liu He is set to sign a landmark, partial trade deal in Washington this week that could be crucial to reviving a farm economy that has been dependent on an infusion of government payments to offset the damage from the U.S.-China trade war.

The Senate is moving ahead with the procedures needed to ratify the U.S.-Mexico-Canada Agreement despite uncertainty over whether the impeachment process will bring the process to a halt.

Trade remains the top concern for American agriculture heading into 2020, with looming uncertainty about whether the Chinese will make promised increases in commodity purchases, and whether President Donald Trump will provide another round of trade assistance to U.S. producers. 

The U.S.-Mexico-Canada Agreement is headed for easy approval on the Senate floor, but the uncertainty surrounding the impeachment process could mean farmers and ranchers will have to wait several more weeks for that final congressional vote.

It remains unclear if recent Chinese moves will translate into major gains for the biotech and farming sectors there and in the U.S.

The Senate Finance Committee on Tuesday easily approved the U.S.-Mexico-Canada Agreement with a bipartisan 25-to-3 vote, potentially setting the trade pact up for a speedy floor vote.

A Senate committee will take up the House-passed implementing bill for the U.S.-Mexico-Canada trade agreement this week and the trade pact could advance quickly to the president's desk.

In a wide-ranging year-end interview, USTR Chief Agricultural Negotiator Gregg Doud offered more details about the "Phase One" deal with China, a long list of export accomplishments, and what to expect on trade in 2020.