The U.S. International Trade Commission's report on the value of the proposed Trans-Pacific Partnership drives home the benefits the agreement would bring to America's farms and ranches.
Our own analysis indicated farmers and ranchers would stand to gain $4.4 billion a year in added farm income with U.S. agricultural exports growing by $5.3 billion a year upon implementation of TPP. The ITC report suggests things could be even better, showing farm income up by $10 billion a year driven by net agricultural exports growing by $4.5 billion a year by 2032. Approving this deal would give U.S. agriculture greater access to some of the fastest-growing markets in the world at a time when we need market expansion like never before. America's farmers are already dealing with low prices and, due to the strong dollar, declining export competitiveness. We must expand to new customers overseas to keep our businesses alive and competitive. Every day we wait to approve TPP, we fall further behind our global competitors.
U.S. agriculture depends on agreements like TPP to break down trade barriers and level the playing field in markets around the world. Farm Bureau will continue to urge Congress and the administration to get this deal done.
Zippy Duvall is the President of the American Farm Bureau Federation