On October 5, the United States and 11 other Pacific Rim nations reached agreement on the Trans-Pacific Partnership Trade Deal (TPP). In light of this development, the Office of the United States Trade Representative (USTR) has launched a new TPP website.
A portion of this website is dedicated to explaining how the TPP benefits U.S. agriculture. Among others, the following benefits are detailed:
- TPP will open foreign markets to U.S. food and agriculture, providing new and commercially meaningful market access and advancing regulations that are transparent and based on science.
- Ensures food safety, animal health, and plant health measures are developed and implemented transparently and in a science-based manner based on risk.
- Eliminates foreign taxes in the form of tariffs on the vast majority of U.S. exports of food and agricultural products.
- Provides new and commercially meaningful market access through significant tariff reductions or preferential tariff rate quotas for the remaining products.
This information, in addition to other agricultural benefits of the TPP, can be downloaded in this fact sheet.