Mexico has threatened a ban on genetically modified (GM) corn imports, a move that would drastically impact prices and economies in both Mexico and the U.S. Corn growers are keenly aware of how critical the relationship is with Mexico, noting that the southern country has been the largest importer of U.S. corn in recent years, falling second only to China. Mexico imported over 660 million bushels of U.S. corn in the season 2021 to 2022 season, worth more than $5 billion. Mexico relies on U.S. corn for livestock feed, meaning a ban on GM corn would likely not apply to the livestock sector.

Even so, Mexican officials have yet to clarify their stance on the position, which could ultimately lead to a loss of $3.56 billion in the first year of lower imports. Over a 10-year time frame, the economic loss would amount to more than $13 billion. But Mexico would be hit worse. According to a report released by agricultural and biotech organizations across the country, Mexico would lose just under $12 billion in GDP in those same ten years, while their economic output would be reduced by just under $20 billion.

Read more on Mexico’s potential ban on GM corn here.