Twelve countries have officially reached a final deal on the Trans Pacific Partnership (TPP).
Illinois Corn Growers Association has followed the negotiations closely as the resulting impact of a new trade agreement would boost the ag economy, especially pork and beef exports.
The Office of the United States Trade Representative said the partnership eventually would end more than 18,000 tariffs that the participating countries have placed on United States exports, including autos, machinery, information technology and consumer goods, chemicals and agricultural products ranging from avocados in California to wheat, pork and beef from the Plains states.
Corn’s hopes for the TPP negotiations included securing increased market access for U.S. corn and ethanol through reduced tariffs, and sanitary and phytosanitary provisions that will reduce the impact of non-tariff barriers.
The text will be made public eventually, with Congress considering the agreement after the first of the year. President Obama’s signature would be his foreign policy “legacy.”