By DENNY FRIEST
Iowa Corn Growers
On behalf of Iowa’s corn farmers, I am calling on our leaders in Washington to ratify the Trans-Pacific Partnership agreement.
The TPP is a trade agreement between the United States and 11 Asia-Pacific countries – Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
TPP cuts import taxes on Made-in-America agricultural exports to TPP countries.
Key tax cuts in the agreement will help American farmers and ranchers by expanding their exports, which provide roughly 20 percent of all farm income in the United States.
As the largest producer and exporter of corn in the world, U.S. corn growers are well positioned to supply future world demand.
Current exports to TPP countries comprise 54 percent of U.S. corn exports, and are valued at more than $8 billion.
The TPP will help expand existing trade between Iowa and six current U.S. free trade agreement partners and will open new markets supporting economic growth and jobs in Iowa.
The TPP will help the U.S. respond to the regional and bilateral trade agreements that our competitors have negotiated.
Without receiving the same or better preferential access enjoyed by our competition, U.S. producers will be at a decided disadvantage at growing new markets over the next decade.
The TPP agreement is expected to increase cash receipts for Iowa’s farmers by $632.8 million and net exports from Iowa by $389.4 million per year.
It is estimated that the increased marketing opportunities for Iowa’s farmers and ranchers will add more than 2,940 jobs to the Iowa economy.
Active engagement around the world is critical to U.S. farmers winning the sales that trade agreements like the Trans-Pacific Partnership can provide.
We urge lawmakers to support trade and pass the TPP.
Denny Friest farms in Hardin County and sits on the board of directors for the Iowa Corn Growers Association.
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