US - A study by the US International Trade Commission (ITC) recently found that the US agriculture sector will increase output if the Trans-Pacific Partnership (TPP) is passed.
Agriculture Secretary Tom Vilsack said: "Today's ITC report echoes what every major reputable study on TPP has now found, from the Petersen Institute to the American Farm Bureau Foundation, which is that TPP will provide strong benefits for the US agriculture sector, with agricultural output set to be $10 billion higher per year by 2032 than it would without the agreement.
"If we don't act, not only will we lose these opportunities, we will be ceding our leadership in the region to China, allowing them to define the rules that the Pacific Rim plays by. We can't afford to delay passage; there is simply too much at stake."
Following the announcement, the National Cattlemen's Beef Association (NCBA), the US Dairy Export Council (USDEC) and the National Milk Producers Federation (NMPF) reasserted their support for the TPP, highlighting the economic benefits for dairy and beef farmers.
NCBA President Tracy Brunner said: "This report clearly shows that TPP would not only lower the taxes on US beef into critical markets like Japan and level the playing field with our competitors, it would provide a boon to the entire US economy.
“Cattle producers rely on foreign markets and international trade to grow demand for high quality US beef.
"These markets add value to every head of cattle raised and fed in the United States. In order to compete with other global beef producing nations, we need the level playing field provided through TPP. US producers have already lost more than $140 million in sales into Japan alone since 2015 due to their preferential trade agreement with Australia.”
Meanwhile, USDEC and NMPF said: "The Trans-Pacific Partnership is a historic pact. If properly implemented and enforced, on balance the agreement will represent a step forward for the US dairy industry based on its improvements to the rules of the road governing trade among the 12 signatories.
“But the benefits of the TPP can only be realised if the United States assures that the signatories live up to their commitments under the agreement, as well as to their prior trade obligations.
"The TPP can only support the continued growth of our industry if the United States ensures that TPP advances US dairy prospects compared to the status quo at the time of its conclusion, and that its provisions are fully implemented and aggressively enforced.”
TheCattleSite News Desk