U.S. Rejection of TPP Creates Opportunities for Canada

DanIndustry News Release, Trade

business rejection
Pork industry leaders from Canada say the rejection of the Trans-Pacific Partnership by the United States could create new export opportunities for Canada’s pork producers. The Chair of the Saskatchewan Pork Development Board says the U.S. backing out of TPP and President Donald Trump’s eagerness to renegotiate the North American Free Trade Agreement could create a void in the global pork market. 20 percent of U.S. pork is exported and pork industry leaders in Canada speculate they need 60 to 70 percent of production exported to sustain current production levels. While acknowledging the renegotiation of NAFTA could also have significant implications for Canada, the Saskatchewan Pork Development Board notes the Canadian dollar being 75 percent of the value of the American dollar is very helpful for its producers, along with a large slaughter capacity.

From the National Association of Farm Broadcasting news service.