Gov. Pete Ricketts says the Trans-Pacific Partnership will benefit Nebraska.
Ricketts says his recent trade mission brought home the importance of TPP.
“When I was on my trade mission to Japan, the companies we talked to were very excited about TPP and getting that completed, because they saw that as a way that we could expand the relationship between Japan and Nebraska,” Ricketts tells Nebraska Radio Network.
That trading relationship is already strong.
Japan is the largest country with direct investments in Nebraska. Japan ranks as the third largest trade partner with Nebraska.
Ricketts believes approval of TPP would allow Nebraska to import even more goods to Japan, especially beef and pork.
“Japan already takes about 20% of our beef exports today and about 50% of our pork exports,” Ricketts says. “The Japanese diet is changing. They want more meat in their diet. This is a great opportunity through TPP to expand that.”
TPP is a trade agreement among 12 nations, including the United States. It focuses on Pacific Rim countries, but also involves other countries in North and South America.
It is a major agreement. The countries signing on create 40% of the world’s gross domestic product.
Congress will consider the deal next year. Three months will be set aside for debate. In the end, though, Congress has no power to amend the deal and will get only an up or down vote. President Barack Obama has been lobbying aggressively for the deal. He must wait three months before he can sign it. The text of the agreement will be available for public view or at least 60 of the 90 days.