President Trump has officially signed the 2018 Farm Bill! Famers are now able to legally farm hemp across the United States. This is huge news for the hemp and cannabis industry in North America.
2018 Farm Bill Passed
The 2018 Farm Bill was passed by the US House and Senate last week. Today, President Trump addressed and signed the legislation at the White House—and he did it live.
The US President called the passing of the bill a "bipartisan success." This is because both the Republicans and Democrats worked together on the bill almost flawlessly, which is not something that often happens in Washington.
Hemp Industry in North America
Hemp-derived CBD products have been legal in all 50 states for quite some time. US Citizens are able to purchase, sell, and possess all hemp CBD products. The reason for this is hemp doesn't produce the psychoactive effects as marijuana does. In fact, hemp has been used to produce clothing, rope, and food by humans for thousands of years.
In 2017, hemp consumers spent $350 million on hemp products in the US. While buying and using hemp products was completely legal, industrial hemp was not. This new bill now allows farmers to produce hemp crops and it completely separates hemp from marijuana.
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Hemp and cannabis advocates have been patiently awaiting the signature of the 2018 Farm Bill when it was announced months ago.
"It’s a game changer,” Erin Holland, CMO of hemp genetics company Tree of Life Seeds, told the Rolling Stones. “We’re very excited about it. Right now, we face a lot of hurdles with banking and other things. I can’t put a paid ad on Facebook, or through Google because we’re considered a drug. This is going to open a lot of doors for us.”
The signing of the 2018 Farm Bill today marks a monumental day in history for the cannabis industry in the US. Hemp is no longer criminalized and has been completely separated from marijuana.
We will continue to follow the story as it unfolds.
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