The Trans Pacific Partnership, or TPP, is a popular topic as the presidential candidates bicker over who supports or opposes the 12-nation trade deal and why.
Nebraska Governor Pete Ricketts says a TPP deal would bring a tremendous opportunity for Nebraska’s farmers and ranchers.
“If we can get TPP signed, it will take the tariffs in Japan on our beef from 38-and-a-half percent down to 9%,” Ricketts says. “That will help us be more competitive with local products, it will help us offset the stronger dollar. That’s just one example, and in Vietnam, for example, our tariffs will go from 20% to zero.”
Ricketts says the state — and the country — need good trade deals like TPP.
“Ninety-six percent of the world’s consumers lie outside our borders,” Ricketts says. “We have to go out there and get them. Trade is an important part of how we do that. We want to make sure the Trump administration and frankly, everybody out there knows how important trade is to helping expand our markets, especially for our ag producers, and 20% of our economy is dependent on agriculture.”
The governor says the agreement would be of special benefit to Nebraska’s beef producers, as that industry now has a 12-billion dollar impact on the state’s economy.
“Nebraska used to account for about 4% of the overall U.S. beef exports and now we’re up to 18%,” Ricketts says, “so this is a a big deal for our cattlemen here in the state.”
It appears Congress will -not- likely take up the TPP debate this year.
By Jerry Oster, WNAX, Yankton