News Update
May 19, 2017
Administration’s Intent to Renegotiate NAFTA
Agriculture Secretary Sonny Perdue issued the following statement May 18 after U.S. Trade Representative (USTR) Robert Lighthizer notified Congress that President Trump intends to renegotiate the North American Free Trade Agreement (NAFTA):
“While NAFTA has been an overall positive for American agriculture, any trade deal can always be improved. As President Trump moves forward with renegotiating with Canada and Mexico, I am confident this will result in a better deal for our farmers, ranchers, foresters and producers.
When the rules are fair and the playing field is level, U.S. agriculture will succeed and lead the world. It’s why we recently announced the creation of an undersecretary for trade at USDA, because as world markets expand, we will be an unapologetic advocate for American agriculture. As I have often said, if our people continue to grow it, USDA will be there to sell it.”
Last week, Perdue announced the creation of an undersecretary for trade and foreign agricultural affairs in the USDA, a recognition of the ever-increasing importance of international trade to American agriculture.
For more information, read the USDA news release online.
USCA Comments on NAFTA Renegotiation
On May 19, USTR Lighthizer formally notified Congress of the administration’s intent to renegotiate the NAFTA. United States Cattlemen’s Association (USCA) Trade Committee Chairman Leo McDonnell issued the following statement:
“Since the signing of NAFTA, U.S. cattle producers have experienced distorted and unfair trading practices with both Canada and Mexico. The current trade disparities have resulted in economic harm over the years to cow-calf producers, backgrounders and feedlot operators.
“This notice triggers a 90-day consultation period in which the administration, Congress and members of the business community can begin discussing how to best modernize the existing agreement and address the challenges faced by America’s farmers and ranchers in an increasingly global marketplace.
“President Trump campaigned on the promise of ensuring fair trade deals for all; today marks an important opportunity to address the unfair treatment of cattle and beef in NAFTA. Specifically, we hope that President Trump will take this chance to strike any provisions that may prevent the reestablishment of a country-of-origin labeling (COOL) program for U.S. beef products.”
Read the USCA news release online to learn more.
Tax Reform Central to Improving Economy
Farmers and ranchers need the economic benefits that will follow from tax reform, the American Farm Bureau Federation (AFBF) told Congress in testimony submitted to the House Ways and Means Committee May 18.
Weather, high debt-service, a lack of liquidity and the difficulties of passing on land from one generation to the next all make taxation an important issue for farmers and ranchers.
AFBF asked legislators to ensure that tax reform results in lower effective tax rates for small and family-owned farms and ranches, as well as for corporations. The group urged lawmakers to:
- continue cash accounting, which matches farm income and expenses better than accrual accounting methods to help farmers pay their bills and manage their taxes;
- preserve interest deductibility — an important matter at a time when the Agriculture Department estimates 17.9% of fixed farm and ranch expenses go to interest payments;
- reduce capital gains taxes, which help families pass farms to the next generation;
- continue like-kind exchanges to defer taxes when farmers and ranchers sell assets and purchase similar property to replace them.
Learn more in the Farm Burea news release online.
Canadian Angus Auction Market of the Year Award
The Canadian Angus Association (CAA) is pleased to honor Heartland Livestock Services from Swift Current, Sask., Can., with the Auction Market of the Year Award. This marks the tenth year the award has been presented by CAA. Senior Director of Business Development BC/AB Brian Good and Director of Business Development SK/MB Bob Toner presented the award at the Livestock Markets Association of Canada annual conference in Lethbridge, Alta., Can.
For more than 50 years Heartland Livestock Services has been committed to providing quality, comprehensive marketing services for Western Canadian livestock producers. In an average year, the team puts 109,000 head of cattle through the ring. In the last 25 years they have handled 2.7 million head. They take pride in providing livestock producers with innovative and effective services that add value to their livestock business.
The Heartland Swift Current facility was built in 1991 and covers 130 acres. There are 60 holding pens with water and feed and 90 receiving pens. The auction area seats 150. The facility also boasts a large kitchen area with seating for 40 and a large office space.
Continue reading this CAA news release online.
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