US International Trade Commission Issues Report- Confirming Agriculture Would be Big Winner if TPP is ImplementedWed, 18 May 2016 20:47:56 CDT
Agriculture Secretary Tom Vilsack issued the following statement today in response to a study by the U.S. International Trade Commission (ITC) that found the U.S. agriculture sector will increase output if the Trans-Pacific Partnership (TPP) is passed.
"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 U.S. agriculture sector, with agricultural output set to be $10 billion higher per year by 2032 than it would without the agreement. Agricultural exports drive 20 percent of U.S. farm income and trade is critical not only to the continued growth of not only the sector, but to rural communities at large. Throughout this Administration, we have expanded access of U.S. Agricultural products to new markets and TPP would further expand the markets for our American-grown products, allowing our goods to compete on a level-playing field and reach more consumers hungry for U.S. agriculture. 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."
To read more about the ITC report, click here.
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