Home>World News>Trump pulled out of a massive trade deal. Now 11 countries are going ahead without the US : worldnews
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Trump pulled out of a massive trade deal. Now 11 countries are going ahead without the US : worldnews

Heres what US Farming Associations are expecting from this, you can bet other industries will be affected:

“American farmers are facing the “imminent collapse” of key markets and fear uneven trade playing fields as Australian, Canadian and other rival nations take advantage of the soon-to-be implemented Trans-Pacific Partnership.”

“Japan is generally a market where we seek to maintain our strong 53 per cent market share, but today we face an imminent collapse,” US Wheat Associates President Vince Peterson told a public hearing held by the US Trade Representative earlier this month.

Our competitors in Australia and Canada will now benefit from those [TPP] provisions, as US farmers watch helplessly.

Australian and Canadian wheat producers will enjoy an immediate seven per cent drop in tariffs selling to Japan because of the TPP” “By April it will have gone down by 12 per cent,” he said. “In very real terms, as of April 1, 2019, US wheat will face a 40 cent per bushel, or $US14 per metric tonne, resale price disadvantage to Australia and Canada.” “After nine years the US will face an automatic premium of $US70 per tonne. “But by that time most of the market will be long gone.

The National Cattlemen’s Beef Association says exports to Japan, the top market for US beef with nearly $US2 billion in sales in 2017, could be eroded by Australian beef exporters enjoying tariff reductions to Japan under TPP” [jump] “”NCBA strongly supports prioritising and expediting negotiations for a US-Japan Trade Agreement,” NCBA President Kevin Kester told a public hearing earlier this month. “The US beef industry is at risk of losing significant market share in Japan unless immediate action is taken to level the playing field.”

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