Trans-Pacific Partnership Nations Announce Agreement

American Soybean Association welcomes finalization of Trans-Pacific Partnership Agreement

Following news out of Atlanta that negotiators from the 12 Trans-Pacific Partnership (TPP) nations have reached a final agreement, the American Soybean Association (ASA), which represents growers of the nation’s top agricultural export commodity, applauded the achievement and promised a careful review of the agreement’s specifics over the coming days. ASA President Wade Cowan, a farmer from Brownfield, Texas, issued the following statement:

“ASA applauds trade ministers from the 12 nations that make up the Trans-Pacific Partnership for concluding an agreement that is intended to create more opportunities, economic growth and jobs. Over half of the soybeans produced by American farmers are exported overseas, and export markets are extremely important to our domestic livestock customers as well. This trade agreement has the potential to increase agricultural exports to new markets and to allow U.S. farmers to better compete in existing markets. From the outset of these negotiations, ASA has been supportive of a TPP that expands the access of American soybean farmers to our customers overseas. From the statements made by our negotiators, it appears that the agreement will eliminate tariffs and other market access barriers in most markets, and substantially increase access in remaining markets. We are optimistic that soybeans, soybean products, and the livestock products produced by our customers all will fare well in the TPP agreement when specific details are revealed. ASA plans to carefully read the terms of the agreement to ensure that soybean farmers as well as livestock producers, which represent a substantial market for soy products, are getting a fair deal before rendering a final judgment on the TPP agreement; everything that we’ve seen and heard thus far makes us feel very positive. ASA thanks the U.S. Trade Representative and U.S. Department of Agriculture officials who have been working tirelessly on behalf of U.S. farmers throughout the TPP process.”