Agricultural Perspectives on the Future of the USMCA
Agricultural Perspectives on the Future of the USMCA
Hearing before the House Committee on Agriculture
Through indirect and induced effects, the meat and poultry processing industry generates significant economic activity in other industries, including livestock and poultry production, animal feed manufacturing, grain and oilseed production, truck and rail transportation, equipment manufacturing, and other sectors. When these indirect and induced effects are incorporated into the analysis, the total economic contribution of the U.S. meat and poultry processing industry is $347.7 billion in value added, more than 3.2 million jobs, $205.3 billion in labor income, $911.7 billion in total sales (output), and $77.0 billion in local, state, and federal taxes. Based on USDA Economic Research Service trade multipliers, U.S. meat and poultry exports contribute additional export activity of more than $44 billion, supporting American workers, farm communities, producers, and companies along the meat and poultry supply chain.
