“The United States now exports more pork to its 20 FTA partners than to the rest of the world combined,” Prestage said. “Free trade agreements work,” he stressed, “not just for pork producers and U.S. agriculture but for the entire U.S. economy. As a nation, we export almost as much to our FTA partners as we do to the rest of the world combined.”
More than a quarter of total U.S. pork production now is exported, and those exports add more than $62 to the price pork producers receive for each hog marketed. Pork exports help generate an estimated 110,000 pork-related U.S. jobs.
Iowa State University economist Dermot Hayes, who said a final TPP agreement would be “the most important commercial opportunity ever for U.S. pork producers,” estimates the TPP will exponentially increase U.S. pork exports and help create more than 10,000 U.S. jobs tied to those exports.
“Without the TPP agreement, U.S. pork exports to the Pacific Rim region would be at a serious competitive disadvantage,” said Prestage. “Competitors such as the European Union, which are negotiating FTAs with countries in the region, will leap at the opportunity to fill the void that congressional delay would create. It is important that Congress act swiftly so that we don’t fall behind.”
The TPP has the potential to provide even greater trade benefits if and when it is opened to additional countries, such as Indonesia, the Philippines, South Korea, Taiwan and Thailand, all of which have expressed interest in joining the trade bloc.
“NPPC deeply appreciates the efforts of U.S. trade officials in achieving an outcome from the TPP negotiations that will provide enormous new market opportunities for high-quality U.S. pork products,” said Prestage.
Source: NPPC