U.S. Trade Agreements Good for Ag CNC Manufacturing
Miller celebrates the new USMCA Trade Agreement recently signed into law. After what seems like years of a tumultuous trade environment, the adoption of the new USMCA shows promise for our manufacturing industry and the communities we serve.
For the Midwest, North American trade is even more important for manufacturers. With Iowa being one of the largest exporters of agricultural machinery as well as food and food products, manufacturers depend on a robust export market for the sustainability of our companies.
According to The National Association of Manufacturers, “Canada and Mexico purchase nearly half of Iowa’s total global manufacturing exports.”
As shown by the chart below, Canada purchases upwards of $4 Billion worth of Iowa manufacturing exports with Mexico following up with almost $2 Billion in purchases.
Miller works closely providing machined parts and custom engineered CNC and Swiss CNC manufactured parts for many of the largest agricultural manufacturers throughout the nation. When export to two of Iowa’s largest purchasers of agricultural machinery increases, so does the demand for the parts and manufactured components the Miller team produces, and that affects everyone in the company.
“This is great. With more sales, comes better opportunities for growth and greater impact on the local economy,” said Kerry Richardson, Sales and Marketing Manager for Miller Products Company.
The positive outlook isn’t just contained to the manufacturing industry, either. Farmers, the purchasers of the equipment our client-partners build, are feeling better about the future as well. According to a recent article by The Farm Equipment Manufacturers Association (FEMA), “The Ag Economy Barometer rose to a reading of 167 in January, a 17-point jump from December.”
With steady sales in Q4 of 2019 and the first half of Q1 of 2020 looking stronger, Miller production and online ordering for custom CNC machined parts and stock products looks to benefit from the new agreement. As forecasting continues, agricultural manufacturing industries also look to benefit from the USMCA trade deal.
Miller Products Company is anticipating a booming 2020. With increased sales and an increase in production capabilities in CNC manufacturing and Swiss CNC manufactured parts, we expect the next year to be a very good one for the company and our community.
If you have questions or need any information about Miller Products Company, our screw machined parts, CNC machined parts or Swiss CNC machined parts, please reach out to our Sales and Marketing Manager, Kerry Richardson at 1-800-245-7034, email: email@example.com or simply click the “Request for Quote” button below.