Loss of NAFTA damaging to economy

U.S. Senator Jerry Moran, KS

Withdrawing from the North American Free Trade Agreement would be devastating to not only our state of Kansas but all economies across the nation.

Sen. Jerry Moran

There's nothing wrong with trying to get a better trade agreement, to modernize, to update, to bring in technology. But if the actual withdrawal from NAFTA occurs, I think it’s very damaging to the economy.

The way I explained this during the tax debate, and I think the tax code changes, the tax reductions are helpful to a growing economy. But you have to have income in order to get the benefits of tax rate reductions. And if we lose our income in Kansas, the benefits of the tax code changes will be greatly diminished.

Mexico, for example, is the number one purchaser of agriculture commodities from the State of Kansas in the world. But we’re also an airplane manufacturing state, an automobile manufacturing state, and how we do business and how we sell what we produce brings income to our state, as do other states.

And so, we are urging caution. And I think there has been a belief on the part of some that American agriculture, in particular, is always going to be there and that no country could walk away from our market, our ability to export to them. Unfortunately, there is significant competition.