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Grassley: Talk of Possible Contingencies if U.S. Backs Out of NAFTA

(Todd Neeley – DTN–The Progressive Farmer)

Ahead of a scheduled meeting with U.S. Trade Representative Robert Lighthizer, Sen. Charles Grassley, R-Iowa, on Tuesday told agriculture journalists there may be indications a renegotiation of the North American Free Trade Agreement isn’t going so well.

Grassley said he has had discussions with someone in “the bureaucracy” about possible contingencies if the United States backs out of NAFTA. Chief among concerns for farmers is what happens to commodity prices if renegotiations fall through.

“There is some talk (among federal agencies) about putting together a pot of money (as a commodity price support) if we pull out of NAFTA,” Grassley told reporters. Click here to read more.

Related: Losing Free Trade Agreements Worries Ag Leaders, Creates Uncertainty For Ag Export Customers (Farm & Ranch)