Michigan agricultural associations say ending free trade with South Korea could have a devastating impact on the state’s agricultural economy.
The announcement was made after reports indicated the Trump Administration is considering backing out of the agreement.
Jim Zook is with the Michigan Corn Growers Association. He said South Korea’s imports from the US have been increasing.
“Just in the last fiscal year from September 16th to June 17th they bought 200 million bushels of corn which is the strongest exports that we’ve seen there in the last five years.”
Zook said Michigan produces roughly 350 million bushels of corn a year.
“So if you think about the fact that we would have almost 75 percent of our corn crop that we wouldn’t have a home to go to it would have a major impact on our prices here within the state.”
Zook said without South Korea’s imports prices for corn could drop and devastated Michigan’s agricultural economy.
And Zook said the trade agreement is working - it doesn’t make sense to pull out.
“These trade agreements are working. We oppose a direct pullout. We are always open to renegotiations if at all possible. But it always feels like in these trade agreements that agriculture is the one with the most to lose.”
Zook said without South Korea’s imports prices for corn could drop and devastate Michigan’s agricultural economy.
Other industries involved in the press release included pork and milk producers. Last year South Korea imported 94 million pounds of cheese from the U.S.