Agricultural News
President's Trade Agenda Must Include Indo-Pacific Agreement
Thu, 31 Mar 2022 10:42:36 CDT
The American Farm Bureau Federation is calling on the Biden administration to use the proposed Indo-Pacific Economic Framework (IPEF) to grow American agriculture exports to the region. AFBF submitted a statement to today's House Ways and Means Committee hearing, "Biden Administration's 2022 Trade Policy Agenda," and tomorrow's Senate Finance Committee hearing, "The President's 2022 Trade Policy Agenda."
U.S. farmers and ranchers rely on export markets for more than 20% of agricultural production. While IPEF is a strong start toward improving relationships and reaching new agreements with the region's countries, it should also include a strategy of creating binding commitments and improving market access for agriculture through reduced tariffs.
"Trade is critically important to the current prosperity of U.S. farmers and ranchers," said AFBF President Zippy Duvall. "American agriculture depends on growing and stable export markets for the success of their business.
"We need a continuing focus by the administration on removing trade barriers to our agricultural products and expanding market access to American goods throughout the world, especially in the Indo-Pacific region."
AFBF also encourages the Biden administration to:
· Build on relationships with China that were strengthened by the U.S.-China Phase 1 agreement;
· Resume trade negotiations between the U.S. and UK to resolve non-science-based barriers to agricultural exports; and
· Work toward increased transparency in the World Trade Organization through an improved notification process.
As Congress considers discussions with current and future trading partners, AFBF urges lawmakers to consider how to most effectively expand agricultural exports to benefit U.S. farmers and ranchers.
Read the full House Ways and Means Committee statement here
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