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American Farm Bureau Federation estimates that annual net farm income will increase by $4.4 billion, driven by an increase of direct U.S. agricultural exports of $5.3 billion per year upon full implementation of the TPP agreement as compared to a scenario in which the U.S. fails to pass the agreement while the remaining member countries proceed apace.

It is estimated that increased marketing opportunities for U.S. farmers and ranchers will add more than 40,100 jobs to the U.S. economy. Eliminating tariffs and other barriers on United States’ agricultural products going into TPP countries, the agreement will increase trade for a range of U.S. agricultural products, including beef, pork, fruits and nuts, vegetables, soybeans, poultry, dairy, rice, cotton and processed food products.

Failure to Lead: It is critical to remember that the TPP is a multi-lateral agreement intended to create high quality rules and market access across its 12 members. However, outside of TPP, other member countries would – and indeed are – already negotiating and implementing bilateral agreements without waiting for the United States to complete action. While legally TPP would only go into full effect if the United States ratifies the agreement, other countries will move forward with their trade capabilities regardless of whether or not the United States decides to ratify the agreement. U.S. failure to enact TPP will not see our trade situation stay the same, but will lead to declining net exports and market share in important markets.


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