USA, Washington. As part of the the National Cattlemen 's Beef Association’s annual Legislative Conference, Ambassador Michael Froman, U.S. Trade Representative, stressed the cost of inaction on the Trans Pacific Partnership (TTP).
“For the past seven years, the Obama Administration has worked together with NCBA to expand export markets for American beef and cattle,” said Froman. “In that time, United States beef exports have more than doubled, rising from $3.1 bill. to $6.3 bill. last year.
However we have more work to do together – most especially, guaranteeing that American ranchers and farmers across this country see the full economic grains the TPP will mean for them and their communities. For example, by 2030, two-thirds of the world’s middle class will call Asia home. However, exports of American beef to countries in the TPP are being hit with tariffs as high as 50%, and face all manner of non-tariff barriers. This high-standard agreement cuts over 18,000 foreign taxes on U.S. exports, opens markets for American ranchers and farmers in one of the world’s fastest-growing regions, and advances regulations that are transparent and based on science.”
Froman stressed that U.S. beef exports would increase by 444 mill. pounds as a result of TPP, resulting in increased cash receipts totaling $1.14 bill. He said, that it’s estimated that TPP will boost annual net farm income in the United States by $4.4 bill.
“Swift passage of TPP is the top legislative priority for cattle producers, and we need to see passage of TPP this Congressional session,” said NCBA Vice President Kevin Kester. Passage of TPP is not only a priority for the cattle industry, but is supported by a broad coalition of agriculture and food organizations and associations. “We were very pleased this week to sign a letter with 224 other groups supporting TPP,” Kester continued.
The Trans-Pacific Partnership (TPP) is a trade agreement among twelve Pacific Rim countries signed on 4 February 2016 in Auckland, New Zealand, after seven years of negotiations. It has not entered into force. Historically, the TPP is an expansion of the Trans-Pacific Strategic Economic Partnership Agreement (TPSEP or P4) signed by Brunei, Chile, New Zealand, and Singapore in 2005. Beginning in 2008, additional countries joined the discussion for a broader agreement: Australia, Canada, Japan, Malaysia, Mexico, Peru, the United States, and Vietnam, bringing the total number of countries participating in the negotiations to twelve. Current trade agreements between participating countries, such as the North American Free Trade Agreement, will be reduced to those provisions that do not conflict with the TPP or provide greater trade liberalization than the TPP.
Source: National Cattlemen’s Beef Association