NEW YORK, Feb. 6, 2017 /PRNewswire/ -- At the ninth annual flagship Global AgInvesting (GAI) conference, here April 18-21 at the Grand Hyatt, expert speakers will address how the policies of President Trump's administration – including the withdrawal from the TPP (Trans-Pacific Partnership) and the promised renegotiation of the North American Free Trade Agreement (NAFTA) – will affect U.S. agriculture and global trade, and the investments made therein.
A day before the presidential inauguration, President-elect Trump nominated George Ervin "Sonny" Perdue III, former governor of Georgia, for the Secretary of Agriculture post. In an interview with GAI News, Mike Strain, NASDA (National Association of State Departments of Agriculture) and Louisiana Department of Agriculture and Forestry Commissioner, said Perdue is highly recommended by colleagues. "He's a fellow veterinarian, highly educated in science and he understands agriculture. He brings some tremendous talent as the former governor of Georgia. He has the political ability and scientific training to take on this task," said Strain.
If Perdue's nomination as head of the U.S. Department of Agriculture is confirmed, he will oversee approximately 100,000 employees and direct a budget of about $140 billion that stretches across ag into economics, trade and food safety. How will the directives of the new secretary trickle down to those investing in ag?
"Agricultural trade is expected to be front-and-center to Perdue's agenda, with billions of dollars at stake as U.S. exports are estimated to be valued at $133 billion for 2017," said Commissioner Strain in his interview with GAI News. "He's going to be very positive on trade, very positive."
As Perdue awaits his confirmation, President Trump has been forging ahead with policy changes.
"These changes could have far-reaching repercussions for those investing in food and agriculture," said Philippe de Lapérouse, managing director and chairman of Global AgInvesting events. "Already we have seen the abrogation of trade treaty negotiations, the threat of a 20 percent punitive tax imposed on Mexican exports to the U.S. with the risk of retaliation on U.S. commodity exports to Mexico, and efforts to quash illegal immigration, which according to Farm Futures provides two million undocumented workers to the U.S. ag sector. While some of these changes may positively affect U.S. farmer operating margins, they are likely to alter the balance of trade and increase price volatility for agricultural commodities. All this is likely to have unintended consequences on the flow of capital into the sector."
Over 700 investors, farm and fund managers, and agribusiness executives are expected to gather at Global AgInvesting in New York, seeking intelligence and insights from industry experts on how to navigate the complex investment environment for agriculture.
About Global AgInvesting
Global AgInvesting is the world's most well attended agricultural investment conference series and leading resource for events, research and insight into the global agricultural sector. Established in 2009, GAI currently produces four annual events and publishes the industry's most critical periodicals, GAI News and the GAI Gazette. GAI is a brand of HighQuest Group, a strategic advisory, conference and media company serving corporations, financial investors and governments across the global food and agribusiness value chains. www.highquestgroup.com
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SOURCE Global AgInvesting