Gov. Pete Ricketts agrees with a recent report which outlines the importance of trade to Nebraska agriculture.
The Nebraska Farm Bureau report says the Trump Administration’s trade wars have cost Nebraska agriculture between $700 million and $1 billion.
Though Ricketts hasn’t read the report yet, he says he continues to remind President Trump of the importance of trade and holds out hope the administration can reach a deal and end a trade dispute with China.
“I do think that the issues with China are complicated, because we’re talking about intellectual property and a difference in how they perceive that versus how we perceive it,” Ricketts tells reporters. “So, I do think these are difficult issues and I do think it’s going to take time to get resolved.”
China is Nebraska’s largest trading partner outside North America and a top buyer of Nebraska soybeans.
Ricketts says he is encouraged a revised NAFTA has been signed. The new agreement brokered by the Trump Administration is called the United States-Mexico-Canada Agreement or USMCA. Ricketts also is pleased a trade agreement with South Korea has been signed and talks are underway with Japan and the European Union.
AUDIO: Brent Martin reports [:45]