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close video Mexico ban on genetically modified corn could ‘corn-er’ the US market

FOX Business’ Madison Alworth speaks to Hinkel Farms’ Elizabeth Hinkel, who warns their corn crop faces a shortage risk over a proposed regulation.

A regulatory move within Mexico’s agricultural sector has U.S. farmers concerned it will "corn-er" their corn crop production.

"Most farmers, my generation and younger, have never even used conventional corn. We're not set up to do it. We don't have the equipment to do it," Hinkel Farms' Elizabeth Hinkel told FOX Business’ Madison Alworth on "Mornings with Maria" Tuesday. "So it would be a huge investment if we had to go back to growing conventional. And on top of that, our yields would be decreased."

American farmers are headed to Capitol Hill to voice concerns about Mexico’s proposed ban on U.S. imports of genetically modified corn, reportedly warning the move could become the most catastrophic thing to happen to corn farmers.

Mexico represents America’s biggest buyer of corn, purchasing more than $10 billion worth of yellow and white U.S. corn last season alone.

FLORIDA ORANGE GROWERS STRUGGLE TO KEEP JUICE ON TABLES AFTER ‘UNPRECEDENTED SETBACKS’ SQUEEZE INDUSTRY

"Even though here in Pennsylvania, our corn stays fairly local, our price is still determined by the board," Hinkel explained. "So if that price goes down, it's going to affect farmers all over the United States, no matter where their corn is being sold."

Mexico’s proposed ban on genetically modified corn will “affect farmers all over the United States,” Hinkel Farms’ Elizabeth Hinkel said on “Mornings with Maria” Tuesday, January 31, 2023. (Getty Images)

Farmers remain husky about Mexico’s GMO ban as they fear it’ll hit their bottom line.

"I just can't even picture in my mind what this is going to do," Hinkel said. "It's farmers from one end of the United States to the other. It doesn't matter where you sell it or what it's used for, it's going to have an effect."

With the ban set to take effect in 2024, Mexico has claimed that the regulation would help increase its own domestic production. Last week, U.S. trade representative Jayme White met with Mexico’s Under Secretary of Economy for Foreign Trade Alejandro Encinas to further discuss the GMO decision and the countries’ future relations.

Mexico purchased more than $10 billion worth of U.S. corn in the 2022 season. (Getty Images)

Following the meeting, the USDA released this statement: "Mexico's proposed approach, which is not grounded in science, still threatens to disrupt billions of dollars in bilateral agricultural trade, cause serious economic harm to U.S. farmers and Mexican livestock producers, and stifle important innovations needed to help producers respond to pressing climate and food security challenges."

A fifth-generation Nebraska corn farmer, who mainly grows white corn for Mexican consumption, noted he wouldn’t switch to growing non-GMO corn due to environmental and financial consequences.

GET FOX BUSINESS ON THE GO BY CLICKING HERE close video Do you know how many grocery store items contain corn?

Host Mike Rowe showcases grocery store items containing corn and the men and women keeping this prevalent ingredient in regular supply on How America Works.

"Our destinies are tied together. They need us as much as we need them," Nebraska Corn Growers Association Chairman Andy Jobman also told Alworth on Tuesday. "And so we really need to come to the table and just resolve this issue and allow GMO corn to continue going into Mexico."

As Mexico prepares for the potential ban, the country, in the meantime, has passed regulation that discourages exports, including a 50% tariff on any white corn leaving the nation.

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Elon Musk steps up attacks on Trump once again – as the president fights back

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Elon Musk steps up attacks on Trump once again - as the president fights back

Elon Musk has stepped up his attacks on Donald Trump’s sweeping tax and spending bill – weeks after a spectacular fallout between the world’s richest man and the US president.

Following weeks of relative silence after clashing with Mr Trump over his “big beautiful bill”, the billionaire vowed to unseat politicians who support it.

In a post on X, Musk said those who had campaigned on cutting spending but then backed the bill “should hang their heads in shame”.

He added: “And they will lose their primary next year if it is the last thing I do on this Earth.”

Musk also threatened to put their faces on a poster which said “liar” and “voted to increase America’s debt” by $5trn (£3.6trn).

The posts attracted a swift reply from Mr Trump, who claimed the billionaire “may get more subsidy than any human being in history” for his electric car business.

“Without subsidies, Elon would probably have to close up shop and head back home to South Africa,” he wrote on Truth Social.

“No more Rocket launches, Satellites, or Electric Car Production, and our Country would save a FORTUNE. Perhaps we should have DOGE take a good, hard, look at this? BIG MONEY TO BE SAVED!!!”

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Elon’s dad on the Musk-Trump bust-up

Musk spent at least $250m (£182m) supporting Mr Trump in his presidential campaign and then led the newly formed Department of Government Efficiency (DOGE), which sacked about 120,000 federal employees.

He has argued the legislation would greatly increase the US national debt and wipe out the savings he claimed he achieved through DOGE.

As the Senate discussed the package, Musk called it “utterly insane and destructive”.

The Tesla and SpaceX CEO said the bill’s massive spending indicated “we live in a one-party country – the PORKY PIG PARTY!!”

“Time for a new political party that actually cares about the people,” he wrote.

Read more from Sky News:
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Musk previously said some of his social media posts during his dramatic fallout with Mr Trump “went too far”.

He had shared a series of posts on X, including one that described Mr Trump’s tax and spending bill as a “disgusting abomination”.

He also claimed, in a since-deleted post, that the president appeared in files relating to the disgraced paedophile financier Jeffrey Epstein.

But Musk later wrote: “I regret some of my posts about President @realDonaldTrump last week. They went too far.”

In response, the president told the New York Post: “I thought it was very nice that he did that.”

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What’s in Trump’s ‘Big Beautiful Bill’?

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What's in Trump's 'Big Beautiful Bill'?

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Martha Kelner and Mark Stone break down what’s in Donald Trump’s huge tax and spending bill. He’s trying to sign it into law by the end of the week.

They also discuss the State Department’s decision to revoke US visas for British band Bob Vylan after their Glastonbury performance.

If you’ve got a question you’d like the Trump100 team to answer, you can email it to trump100@sky.uk.

You can also watch all episodes on our YouTube channel.

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Major German bank to offer crypto trading by 2026 amid bank ‘FOMO’

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Major German bank to offer crypto trading by 2026 amid bank ‘FOMO’

Major German bank to offer crypto trading by 2026 amid bank ‘FOMO’

Sparkassen-Finanzgruppe execs once ruled out adopting crypto over concerns of volatility and risk, and the banking giant also blocked customer crypto transactions back in 2015.

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