The passage by US Congress, of the Free Trade Agreements (FTAs) with South Korea, Colombia and Panama marks a significant milestone in US trade history that Cargill believes will pay economic dividends as well as help improve living standards across the globe.
By eliminating tariffs and opening market access, the new FTAs will usher in greater opportunity for American workers, manufacturers, farmers and ranchers to increase their market share.
Additionally, the elimination of trade barriers through these FTAs, will help address food security needs by lowering prices for consumers in these markets and by making it easier for food to flow across borders.
“These FTAs represent sound policy that is good for farmers, workers, manufacturers and business and will benefit the U.S. economy,” said Greg Page, Cargill chairman and chief executive officer. “With these agreements in place, we now look forward to additional regional and multilateral agreements to help further benefit our global marketplace.”