Following a trip to South America, House Agriculture Committee Chairman Collin Peterson said he believes South America as a competitor to the U.S. will “only become stronger with time.” Peterson led a delegation to South America to see firsthand its impact and potential in global agricultural trade. The delegation saw the commitment South America has to improve its infrastructure, a key issue holding back the region when it comes to exports. During meetings, the delegation learned that the country is looking to attract billions in private investment to improve the country’s infrastructure, and in particular the capacity of its agricultural supply chain. Peterson says “it’s only a matter of time” before infrastructure investments improve the export of agricultural products, and “cut into” the competitive advantage the U.S. enjoys over South America. Further, Peterson says the Chinese are “happy to buy everything the South Americans can grow” right now, while the U.S. is embattled in trade negotiations and facing retaliatory tariffs.
From the National Association of Farm Broadcasting.