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ITC report shows TPP benefit to ag economy

A new report says some of the biggest trade gains for the U.S. in the Trans Pacific Partnership will be in agriculture. The International Trade Commission looked at the likely impact on all sectors of the U.S. economy.

If implemented, the report says ag exports would increase by more than $7-Billion a year by 2032. It says imports of ag products would increase by less than $3-Billion a year:  “U.S. beef exports are expected to increase by $876 million, pork by $219 million, and poultry by $174 million, for a total meat export gain of almost $1.3 billion. Although corn exports would decline slightly, the dip would be more than offset by increased domestic demand for corn as a feed source for the livestock industry.”

National Corn Growers Association President Chip Bowling says, “NCGA is committed to helping the livestock industry grow demand for U.S. meat and dairy, here and around the world – which in turn increases demand for U.S. corn.”

Ag Secretary Tom Vilsack and American Farm Bureau President Zippy Duvall say the report is evidence that Congress needs to pass the TPP this year. Duvall says U.S. farm income would grow significantly under the 12-nation trade deal.