Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211

advertisements
   
   
   
   
   

Agricultural News


New USDA Fact Sheets Illustrate State-by-State Benefits of Trans-Pacific Partnership

Wed, 07 Oct 2015 09:39:09 CDT

New USDA Fact Sheets Illustrate State-by-State Benefits of Trans-Pacific Partnership

   

The U.S. Department of Agriculture (USDA) today released a series of fact sheets illustrating how the newly reached Trans-Pacific Partnership (TPP) agreement can boost the U.S. agriculture industry, supporting more American jobs and driving the nation's rural economy. Created by the USDA's Foreign Agricultural Service (FAS), the fact sheets graphically depict how each state and individual commodities stand to benefit from increased agricultural trade with the 11 other TPP countries.
Trade ministers from Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam concluded TPP negotiations on Oct. 5 in Atlanta, Ga. Trade with these countries accounted for 42 percent of U.S. agricultural exports in 2014, contributing $63 billion to the U.S. economy.

"Increased demand for American agricultural products and expanded agricultural exports as a result of the Trans-Pacific Partnership agreement will support stronger commodity prices and increase farm income. Increased exports will support more good paying export-related jobs, further strengthening the rural economy," Agriculture Secretary Tom Vilsack said. "All of this activity benefits rural communities and keeps American agriculture on the cutting edge of global commerce. The TPP agreement will contribute to the future strength of American agriculture and helps to ensure that the historic agricultural trade gains achieved under President Obama since 2009 will continue."

The United States runs an agricultural trade surplus which benefits farmers, ranchers, and all those who live, work and raise families in rural America. Agricultural trade supports more than one million American jobs. TPP will remove unfair trade barriers and help further the global expansion of American agricultural exports, particularly exports of meat, poultry, dairy, fruits, vegetables, grains, oilseeds, cotton and processed products.

The information released today illustrates benefits for key commodities and all 50 states. Learn more about TPP and its benefits to the agricultural economy at http://www.fas.usda.gov/tpp. Here is just a snapshot of how the TPP would boost exports of some U.S. food and agricultural products:


Beef and Veal

Japan's beef tariff, currently as high as 50 percent, will be reduced to nine percent. Japan will eliminate duties on 75 percent of tariff lines, including processed beef products. Vietnam will eliminate tariffs and Malaysia will lock tariffs in at zero percent.


Pork

Japan will eliminate duties on nearly 80 percent of tariff lines, including processed pork. Remaining tariffs will be cut and the "Gate Price" system significantly altered. Nearly all Malaysian tariffs will be locked in at zero percent and Vietnam will eliminate tariffs.


Fruits

Japan, Malaysia, and Vietnam will eliminate tariffs on all fresh and processed fruits, including citrus.


Vegetables

Malaysia and Vietnam will immediately eliminate all tariffs, and Japan nearly all tariffs, on fresh and processed vegetables. All three countries will eliminate tariffs on potatoes and potato products.


Rice

Japan, which excluded rice from its prior trade agreements, will establish a new, duty-free quota for U.S. rice. Malaysia and Vietnam will eliminate tariffs.

 

WebReadyTM Powered by WireReady® NSI

 


Top Agricultural News

  • Texas & Southwestern Cattle Raisers Association announces Cody Maxwell the 2020 Outstanding County Extension Agent  Sat, 24 Jul 2021 07:36:43 CDT
  • House Agriculture Committee to Consider WHIP+ Extension for 2020, 2021 as Senators Boozman, Hoeven Tee Up Similar Package   Sat, 24 Jul 2021 07:32:00 CDT
  • Webinar Overview: Eric Stonestreet Celebrates Pig Farming   Sat, 24 Jul 2021 07:29:31 CDT
  • Friday, July 23, 2021 Market Wrap-Up with Justin Lewis  Fri, 23 Jul 2021 17:07:41 CDT
  • Oklahoma Grain Elevator Cash Bids as of 2:00 p.m, Friday, July 23  Fri, 23 Jul 2021 15:45:26 CDT
  • OKFB Foundation for Agriculture announces $16,000 in Educational Grants  Fri, 23 Jul 2021 13:16:28 CDT
  • Smart Irrigation practices Benefit plants and Budgets  Fri, 23 Jul 2021 13:10:33 CDT
  • Plexus Cotton Market Report - July 22, 2021  Fri, 23 Jul 2021 13:07:16 CDT

  • More Headlines...

       

    Ron salutes our daily email sponsors!

    Oklahoma Beef council Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit Ag Mediation Program P&K Equipment Tulsa Farm Show Union Mutual Stillwater Milling Oklahoma Cattlemen's Association KIS FUTURES, INC.

    Our Road to Rural Prosperity sponsors!

    Banc First OPSRC ORWA TPAOO TPAOO

    Search OklahomaFarmReport.com


       
       
    © 2008-2021 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.