Report on modifications to USMCA

(a) Report required The Secretary of Agriculture, in coordination with the United States Trade Representative, shall submit to the appropriate congressional committees and concurrently make publicly available, prior to July 1, 2026, a report on how any expected or implemented modification or revocation of any part of the USMCA (as such term is defined in section 3 of the United States-Mexico-Canada Agreement Implementation Act (19 U.S.C. 4502(9))) in any manner will affect the importation or exportation of any article that is a covered agricultural commodity, including— (1) the anticipated effects on relevant product prices and projections as a result of such revocation or modification, including— (A) the short- and long-term impacts on domestic pricing; (B) changes in consumer food prices; (C) expected or anticipated shifts in input costs for domestic producers; and (D) regional or sector-specific variations in pricing impacts; and (2) the forecasted shifts in farm revenue and profitability for domestic farmers, foresters, ranchers, and other producers as a result of such revocation or modification, including— (A) impacts on net farm income and debt-to-asset ratios; (B) sector-specific effects on crops, livestock, and specialty crops; (C) effects on small, medium, and large farm operations; (D) impacts on agricultural exports, market access, and global competitiveness; and (E) estimated effects on rural employment and economies. (b) Definitions In this section: (1) Appropriate congressional committees The term appropriate congressional committees means— (A) the Committee on Agriculture, the Committee on Ways and Means, and the Committee on Foreign Affairs of the House of Representatives; and (B) the Committee on Agriculture, Nutrition, and Forestry, the Committee on Finance, and the Committee on Foreign Relations of the Senate. (2) Covered agricultural commodity The term covered agricultural commodity has the meaning given the term agricultural commodity under section 102(1) of the Agricultural Trade Act of 1978 (7 U.S.C. 5602(1)).