The U.S. Department of Agriculture (USDA) is making its case on how the newly reached Trans-Pacific Partnership (TPP) agreement will benefit ag operations across the country. This news release says the USDA is releasing a series of fact sheets put together by the agency’s Foreign Agricultural Service that show how TPP will boost the U.S. agriculture industry, supporting more American jobs and driving the nation’s rural economy, state-by-state and commodity-by-commodity.
Trade ministers from Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam concluded TPP negotiations on Oct. 5 in Atlanta, Ga. Trade with these countries accounted for 42 percent of U.S. agricultural exports in 2014, contributing $63 billion to the U.S. economy.
“Increased demand for American agricultural products and expanded agricultural exports as a result of the Trans-Pacific Partnership agreement will support stronger commodity prices and increase farm income. Increased exports will support more good paying export-related jobs, further strengthening the rural economy,” Agriculture Secretary Tom Vilsack said. “All of this activity benefits rural communities and keeps American agriculture on the cutting edge of global commerce. The TPP agreement will contribute to the future strength of American agriculture and helps to ensure that the historic agricultural trade gains achieved under President Obama since 2009 will continue.”
The United States runs an agricultural trade surplus which benefits farmers, ranchers, and all those who live, work and raise families in rural America. Agricultural trade supports more than one million American jobs. TPP will remove unfair trade barriers and help further the global expansion of American agricultural exports, particularly exports of meat, poultry, dairy, fruits, vegetables, grains, oilseeds, cotton and processed products.
More information on TPP benefits is available here.