After the signing ceremony of the Trans-Pacific Partnership in New Zealand, the American Feed Industry Association (AFIA) looks to Congress to approve the trade agreement for the betterment of the US animal food industry.
“Congress should vote to approve TPP,” stated Gina Tumbarello, AFIA director of international policy and trade. “International trade offers the greatest potential for the US animal food industry’s future growth, through both direct feed and ingredient exports and the increased overseas sale of US livestock, poultry and dairy products. Free trade agreements, such as TPP, are the tools that open those international markets and make continued US growth possible.”
In 2014, the US exported more than US$10 billion in feed, feed ingredients and pet food, including soybean meal, corn co-products and other feed additives. Sixty percent of those exports go to TPP countries.
“US exports to the Asia-Pacific region have grown, but the share of US trade in that area has declined relative to other countries because countries in that region have bilateral or regional free trade agreements with US competitors,” said Tumbarello. “For example, a recent USDA report found the Japan-Australia trade deal could result in a US$100 million loss in exports to Japan. Ratifying TPP would significantly reduce this effect.
“To ensure the US plays a leading role in this important global region, Congress must approve TPP.”