Report: U.S. Trade Falling Behind Global Competitors

The Corn Refiners Association Tuesday released a new report revealing the United States is behind its competitors in reducing global trade barriers. The report, which tracked trade agreements since 2010, shows several nations have outpaced the U.S. in the creation of new bilateral and multilateral trade arrangements, including China, Japan, the European Union, and Canada.

At the same time, U.S. trade partners are pressing forward with new trade agreements without the U.S., risking diminished American economic competitiveness and investment opportunities. Corn Refiners Association President and CEO John Bode says, “We must act swiftly on these issues to reaffirm American leadership and maintain our status as a leading voice in global trade regulations and standards.” While the U.S. has completed four trade agreements since 2010, including the modernization of an existing agreement, China has entered into ten new agreements, Japan has entered into seven, the EU has entered into eight, and Canada has entered into eight.