Trans-Pacific Partnership benefits US agriculture

The International Trade Commission recently published a report about the economic benefits that the U.S. economy and U.S. agriculture have gained from the Trans-Pacific Partnership.

Leaders in the agriculture industry have said that this report shows how important it is for farmers and ranchers in the U.S. to tell Congress that the Trans-Pacific Partnership is crucial to the U.S. economy. Congress still needs to pass the agreement.

“The ITC report confirms what we already know: the Trans-Pacific Partnership is a win for U.S. agriculture,” National Corn Growers Association (NCGA) President Chip Bowling said. “At a time when the farm economy is struggling, TPP would be a big step in the right direction for America’s farmers and ranchers." 

A landmark worldwide trade deal, the Trans-Pacific Partnership applies to 12 nations, making up approximately 40 percent of the global economy. The report says that the partnership is estimated to increase U.S. agricultural exports by 7.2 percent. In addition, U.S. beef exports should rise by $876 million, poultry by $174 million, and pork by $219 million.

“NCGA is committed to helping the livestock industry grow demand for U.S. meat and dairy, here and around the world – which in turn increases demand for U.S. corn,” Bowling said.

Corn exports are expected to decrease, but this would be offset with the demand for corn to feed the livestock industry.