The United States-Mexico-Canada Agreement (USMCA) continues to be a vital tool for the U.S. agricultural sector, generating $149 billion in total economic contribution and supporting nearly 500,000 jobs in 2024 according to a report put out by the Agricultural Coalition for USMCA. The agreement preserves critical access to North America’s largest export markets, reinforcing the competitiveness of American farmers, ranchers and food manufacturers.
Agricultural and seafood exports to Canada and Mexico reached $60.9 billion in 2024, reflecting a 47 percent growth since USMCA’s implementation in 2020. This growth rate far outpaces the 18 percent increase in agricultural exports to the rest of the world over the same period. The agreement also ensures duty-free access to essential inputs, lowering costs for producers.
Every $1 in exports under USMCA supports an additional $2.45 in economic activity across the U.S., with direct, indirect, and induced impacts spanning farming, processing, transportation, real estate, and even healthcare. The trade relationship supports $64 billion in U.S. GDP and generates $13 billion in tax revenue.
In 2024, U.S. exports of grains and soybeans to USMCA partners reached nearly $8.4 billion, with corn exports totaling almost $6 billion and soybeans contributing over $2.4 billion. This growth reflects a 47 percent increase in agricultural exports to these markets since USMCA took effect in 2020, outpacing the 18 percent growth seen in exports to the rest of the world.
The agreement’s provisions also ensure key inputs enter the U.S. duty-free, lowering costs for grain and soybean farmers. Every $1 in exports under USMCA supports an additional $2.45 in economic activity, spanning farming, processing, transportation, and related industries.
The ripple effect of grain and soybean exports supports jobs in wholesale trade, truck transportation and petroleum refining, as well as consumer services like healthcare and restaurants in rural communities. This broad impact reinforces the stability and growth of agricultural regions.
USMCA also provides a reliable forum for resolving trade disputes, such as the recent resolution favoring U.S. interests on genetically modified corn, reducing uncertainty for producers.
As the agreement approaches its 2026 review, stakeholders emphasize its role in strengthening rural economies and advancing the global competitiveness of U.S. grain and soybean producers. The economic footprint of USMCA highlights how targeted trade agreements support American agriculture, jobs, and communities.
