Farmers throughout the nation are sounding the alarm about a proposed rule that might be disastrous for their companies and the American economy as a whole.
According to Fox Business, Mexico is preparing to implement a new legislation that would restrict U.S. imports of genetically modified maize, and many fear that this might be “the most catastrophic thing to happen to corn farmers.”
Mexico is the top purchaser of American maize, acquiring over $10 billion worth of grain from the United States, yet the majority of American farmers are not equipped to cultivate non-GMO corn.
Elizabeth Hinkel of Hinkel Farms told Fox Business that switching to conventional corn would require a big effort, stating, “it would be a huge investment if we had to go back to growing conventional. And on top of that, our yields would be decreased.”
Hinkel further stated that regardless of where farmers sell their corn, the price of corn in one region is reliant on the price of corn in the rest of the country. As a result, corn prices throughout the nation would drop, and farmers will incur enormous losses.
In the meanwhile, the USDA condemned Mexico’s decision, stating that it “lacks a scientific basis” and that it harms economic relations between the two countries as well as the productivity of American and Mexican farmers.
Now it is common knowledge that GMO food is a contentious topic, and many people would prefer not to consume GMO food. Regardless of where you feel on the subject, the truth is that the majority of American farms are not equipped to cultivate non-GMO crops, and it is highly unlikely that they will make the necessary adjustments to satisfy the Mexican government.
This implies that we are no longer able to sell the majority of our grain supply to our greatest customer, which may cause farmers and the American economy to collapse.
Now, farmers are heading to Capitol Hill to demand that Congress preserve their livelihoods and take action.
In the meanwhile, this again demonstrates a fundamental distinction between the administrations of Joe Biden and Donald Trump.
Trump was renowned for his aggressive and sometimes harsh approach to international relations. Regarding U.S.-China trade, he is renowned for standing up to China.
Trump notably stood up to Mexico not just about trade policy but also immigration, insisting that Mexico would pay for his border wall.
Thus, the southern border was protected, and trade between the two countries flourished.
In contrast, Biden has frequently allowed other nations to use the United States for their own benefit. His immigration strategy has resulted in swarms of illegal immigrants crossing the southern border, and he has transferred billions of cash to foreign countries at the cost of the United States.
Mexico has no qualms about enacting this law, as they are well that the Biden administration will take no action.
In the meantime, Mexico is executing a Trumpian-like trade strategy by imposing a 50 percent tariff on grain leaving the country.
It appears like Mexico understands what it must do to ensure the prosperity of its economy. The Biden government accomplishes nothing, and as a result, the economy is in free decline.