The United States and the European Union are in negotiations towards a comprehensive trade agreement, called the Transatlantic Trade and Investment Partnership (TTIP), to expand the world’s largest commercial relationship with $1 trillion of trade in goods and services annually and $3.7 trillion in two-way direct investment. U.S. agriculture is poised for growth in the European market. Last year, U.S. farmers and ranchers exported just under $13 billion to the EU, while the EU in turn exported $25 billion worth of agricultural products to the U.S. Farm Bureau supports leveling the playing field for U.S. agriculture in the European market and stands firmly against the EU's non-scientific agriculture trade barriers.
Negotiations between the U.S. and the EU are continuing. The EU and other countries await the final outcome on TPP to gauge the commitment of the U.S. to expanding trade opportunities around the globe.
Farm Bureau policy for trade negotiation objectives:
- Include all agricultural products and policies in the negotiations
- Elimination of non-tariff trade barriers
- Ensure market access for biotechnology products
- Address issues concerning import sensitive products
- Opposition to the Precautionary Principle
- Opposition to the use of geographic indicators