trans pacific partnership

Kristofor Husted / Harvest Public Media/KBIA

President Trump made campaign promises to pull the U.S. out of big international trade deals and focus instead on one-on-one agreements with other countries. But that has farmers worried they will lose some of the $135 billion in goods they sold overseas last year.

Two years ago, Missouri rancher Mike John expected the U.S. beef industry to grow by providing steaks and hamburgers from the Midwest to hungry eaters in Japan. He was planning on the Trans Pacific Partnership, or TPP, a massive trade deal among 12 countries, including the U.S. and Japan. It took eight years of negotiations to get each nation involved to agree to lower tariffs. Some economists expected the pact to add $3 billion dollars to the U.S. agriculture industry. Trump, however, called the TPP a disaster and pulled the U.S. out.

Kristofor Husted / KBIA/Harvest Public Media

 

  

Turn on the TV and you can barely escape it: presidential candidates on both sides of the aisle deriding free trade agreements, like the pending Trans-Pacific Partnership. The TPP is a bum deal that will hurt the U.S. economy and especially low-wage workers, according to pols from Donald Trump to Hillary Clinton.

But if you venture into the Midwest and ask a farmer about the TPP, you’re likely to get a different answer.

Courtesy Office of the U.S. Trade Representative

 

The U.S. is formally part of the biggest global trade partnership in history after the countries involved in the Trans-Pacific Partnership symbolically signed the deal in New Zealand. For President Obama, now comes the hard work.  

Twelve countries bordering the Pacific Ocean negotiated for years to hammer out the TPP. Though the deal is expected to open up new markets for American agricultural exports, especially soybeans and beef, it remains controversial.

Kathleen Masterson / Harvest Public Media

 

After years of work, U.S. negotiators on Monday announced agreement on a trade deal with 11 Pacific Rim nations that is expected to expand export opportunities for U.S. farmers.

The 11 countries included in the deal, called the Trans-Pacific Partnership or TPP, already import some 42 percent of U.S. agricultural exports at a value of $63 billion, according to the U.S. Agriculture Department.