WASHINGTON, DC – Today, in reaction to the announcement of the signing of a new trade agreement between the United States of America and Japan, John Bode, President and CEO of the Corn Refiners Association, commented:
“This trade agreement with Japan is yet another display of the Trump Administration’s commitment to expanding global export market access for American agricultural products. As the world’s third-largest economy, and the fourth-largest U.S. trade partner, Japan represents a key export market for American farmers, ranchers, and agri-businesses, making this deal a win. We commend the leadership of President Trump and Ambassador Lighthizer and look forward to reviewing additional details as they become available.”
According to the Office of the United States Trade Representative (USTR), in 2018, Japan served as the fourth-largest export market for U.S. goods at $75 billion, in addition to serving as the fourth-largest market for U.S. agricultural exports, at $12.9 billion. Further,
U.S. corn refiners export over $2 billion dollars in goods annually, adding $4.7 billion to the overall economy. With 15% of all U.S. refined corn products exported annually, international trade is vital to the success of CRA members.
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The Corn Refiners Association (CRA) is the national trade association representing the corn refining industry of the United States. CRA and its predecessors have served this important segment of American agribusiness since 1913. Corn refiners manufacture sweeteners, starch, advanced bioproducts, corn oil and feed products from corn components such as starch, oil, protein and fiber.