Rural Issue

Obama: TPP benefits all states, most commodities

President Obama says every state, and many commodities, stand to benefit from increased agriculture trade with participating Trans-Pacific Partnership countries.

In an interview with Brownfield after the agreement was finalized, the president specifically mentioned Japan, which currently maintains beef tariffs as high as 50 percent.

“TPP is going to provide unprecedented access to the Japanese beef market,” President Obama told Brownfield Ag News.  “Japan will eliminate duties on 74 percent of its beef and beef product imports over the next 16 years; Vietnam’s going to eliminate their tariffs on beef and beef products.  We’re seeing similar progress on pork and poultry.”

A fact sheet from the USDA’s Foreign Agricultural Service shows the potential economic benefits for key commodities, and for all 50 states.

The agency says commerce among the 12 Pacific Rim countries in the new trade deal accounts for 42 percent of 2014 U.S. agriculture exports.  In order to go into effect, the TPP must be ratified by each nation involved.

AUDIO: President Barack Obama and Tom Vilsack (21 min. MP3)