USMEF “fully committed” to trading partners after TPP withdrawal
24/01/2017
A final proposal for the 12-nation deal was signed on Feburary 4, 2016 in New Zealand but cannot be ratified without the approval of all participating nations. It aimed to strengthen economic ties and boost growth by eliminating trade tariffs between the countries.
In response to President Trump’s decision, US Meat Export Federation (USMEF) president and CEO Philip Seng said: “USMEF remains fully committed to our valued trading partners in the Trans-Pacific Partnership (TPP) and the North American Free Trade Agreement (NAFTA).”
He added that these countries make up more than 60% of US red meat exports and that the US meat industry would be at a “serious competitive disadvantage” unless it could gain access to these markets.
The governments of Australia and New Zealand have announced plans to press ahead with TPP. Australian trade minister Steve Ciobo revealed that he has already held talks with other signatories to discuss a “TPP 12 minus one” deal. This sentiment was echoed by New Zealand Prime Minister Bill English, who met with representatives of several of them at the recent summit of the World Economic Forum.
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