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WASHINGTON — U.S. Sen. Pete Ricketts has introduced legislation aimed at reducing the nation’s agricultural dependence on Communist China by encouraging the development of alternative export markets for American farm products.
Ricketts recently announced the Moving Away from Risk to Key Export Targets, or MARKET Act, which would require annual federal reviews of how trade disputes with countries such as China could affect U.S. agricultural exports.
The proposal would direct the U.S.
Department of Agriculture and the Office of the United States Trade Representative to conduct yearly assessments examining potential market disruptions involving commodities such as soybeans, corn, beef, pork, chicken, dairy products, sorghum, cotton and tree nuts.
Under the bill, the Secretary of Agriculture also would be required to provide recommendations on ways to reduce export risks and expand access to markets outside of China.
“Nebraska farmers and ranchers feed the country and fuel the world. But Communist China threatens this,” Ricketts said in a statement announcing the legislation. “Relying on one major buyer carries risks, which is why we must develop new markets for agricultural commodities.”
Agricultural groups said the proposal addresses concerns that have surfaced during past trade disputes between the United States and China.
Scott Metzger, president of the American Soybean Association, said soybean producers have seen firsthand how international trade tensions can quickly disrupt export markets.
“Soybeans are the largest exported commodity in the U.S., and the biggest global market for soybeans is China,” Metzger said.
“We have seen how strong markets like China take decades to build but can disappear overnight when trade tensions flare up.”
Nebraska ranks among the nation’s leading agricultural export states. According to information released by Ricketts’ office, the state exported nearly $8 billion in agricultural products last year, including significant volumes of beef, corn, feed grains and soybeans.
The legislation comes as policymakers in both parties continue discussing the economic and national security risks associated with China’s influence over portions of the American supply chain and export economy.
Ricketts has previously supported legislation intended to limit foreign influence in U.S. agriculture and promote additional overseas markets for American commodities.
During his time as governor of Nebraska, he also led trade missions focused on expanding agricultural exports to countries including Japan and Vietnam.
