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Senate bill aims to reduce ag trade reliance on China

Proposed legislation in the U.S. Senate could help reduce agriculture’s reliance on China as a critical export market.

Senator Pete Rickets of Nebraska says his MARKET ACT could protect the sale of U.S. ag goods from unfair trading practices. “China has demonstrated time and time again it is not a reliable trading parter. We need to explore new markets to prevent Nebraska farmers and ranchers from being beholden.”

The Moving Away from Risk to Key Exports Targets Act would require USDA and USTR to conduct an annual assessment to determine market access for commodities Those commodities include: soybeans, corn, beef, chicken, pork, tree nuts, sorghum, cotton and dairy. It also requires the USDA Secretary to reduce barriers for markets outside of China.

American Soybean Association President Scott Metgzer says the legislation would ensure that soybeans remain competitive in global markets.

Ricketts says he’s encouraged by recent trade summit between the two countries, but accountability will be the main indicator for future success.