Study: TPP Withdrawal Creates Export Loss for U.S., Gains for Canada

DanIndustry News Release, Trade

studyA new study says the U.S. withdrawal from the Trans-Pacific Partnership will cost the nation more than $3 billion in exports. Meanwhile, the remaining 11 members would enjoy marginal gains from the U.S.’ TPP withdrawal, with Mexico and Canada set to benefit the most. A study by a firm from Canada told the Global Trade Review this week that TPP-11 would generate an increase of 2.4 percent in exports among the 11 remaining partners, however, this is just 40 percent of the increase that would have happened under the original deal that included the United States. The study says an 11 nation TPP, however, would be better than the original agreement for Canadian agriculture and agri-food, because the sector would no longer compete with the US in TPP markets. The study says that Canadian beef would benefit from access to the Japanese market without having to share access to the U.S., and that fruit and vegetable exports, processed food products, and pork and poultry would likewise do well.

From the National Association of Farm Broadcasting News Service.