Soy Growers Welcome Administrations Second Look at TPP

first_imgThe Asia-Pacific Market Working Group of the U.S. Food and Agriculture Dialogue for Trade sent a letter to U.S. Trade Representative Robert E. Lighthizer and members of Congress welcoming President Donald Trump’s consideration of rejoining the Trans Pacific Partnership (TPP).The U.S. Food and Agriculture Dialogue for Trade is comprised of over 100 organizations representing America’s agriculture industry, including the American Soybean Association (ASA).ASA expressed significant concern last January, following an executive order from Trump that withdrew the U.S. from the 12-nation TPP. Soybeans are the nation’s largest agricultural export, and markets in Southeast Asia and Latin America continue to grow in their potential as buyers of U.S. soy. The biggest beneficiary from TPP, however, was the American livestock industry–in the form of increased meat and dairy exports–which represents the largest domestic market for soybean meal.“We understand that the eleven other TPP signatories will sign the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in March and begin implementing it in the ensuing months,”  the Asia-Pacific Market Working Group states in the letter. “Once this happens, our sector will be placed at a substantial disadvantage as other countries gain entry into these markets at substantially lower tariffs and preferential terms. Given the downturn in U.S. farm prices and profitability that is already hurting rural America, the timing could not be worse. American food and agricultural producers and companies are facing significant barriers in these markets that could be addressed with the improved rules and higher standards through reengagement with the TPP countries.”The group offered to share specific ideas and support the Administration’s efforts for reengaging with TPP countries.Click here to read the letter.last_img

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