Market News & Headlines >> Trump Order Streamlines GMO Reviews

President Donald Trump signed an executive order on Tuesday that directs federal agencies to streamline the review process for agricultural biotechnology including genetically modified livestock and seeds. 

Trump signed the order during a visit to an ethanol plant in Council Bluffs, Iowa. The executive order, he said, would "speed up reviews of biotechnology so that farmers can get access to critical scientific advances faster and reap the full benefits of American innovation for many years into the future." 

The White House said in a statement that the order "will help eliminate delays, reduce developer costs and provide greater certainty about the review process for farmers." 

The executive order also directs the U.S. Trade Representative, in consultation with the Secretaries and the Trade Policy Staff Committee, to “develop an international strategy to remove unjustified trade barriers and expand markets for products of agricultural biotechnology” within 120 days of the order.  

The Biotechnology Innovation Organization, an industry group that represents companies such as Bayer AG told Reuters News Service that the executive order was an "important step forward to ensure government policy does not hinder 21st-century biotechnology from addressing the many global challenges."