New law opens trade doors for Texas farmers, ranchers
A new federal law will open market opportunities for Texas farmers and ranchers to export their products to Russia, according to George Hood, Victoria County Farm Bureau president.
"Russia's membership in the World Trade Organization means that we as farmers and ranchers have more opportunities to sell them our products," Hood said.
President Barack Obama signed the Permanent Normal Trade Relations bill with Russia into law Dec. 14. PNTR was approved in a 92-4 vote by the Senate on Dec. 6. It was approved in the House in November with a 365-43 vote.
"This new law is very important because it brings more predictability and safety standards to the trade process," Hood said.
PNTR solidifies Russia's promise not to impose tariffs on U.S. exports above the negotiated rates and applies international food safety standards. Increased trade with Russia is expected to benefit several sectors of American agriculture, including sales of beef, poultry and pork.