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Full TPP Text Released

Tuesday, November 10, 2015

(North American Meat Institute)

The Office of the U.S. Trade Representative (USTR) released the full text to the final Trans-Pacific Partnership (TPP) agreement, a trade deal between the U.S. and 11 Asia-Pacific region countries that would cover approximately 40 percent of the global economy. The text is available here. The text includes annexes on the exclusions to rules secured by each country, bilateral deals with Japan, and more than 50 two-way side letters between the U.S. and other TPP countries covering topics such as geographic indications.

Of note, under TPP, Japan’s beef tariff will be reduced to nine percent and the country will cut tariffs on 77 percent of fresh, chilled and frozen beef tariff lines. Vietnam will eliminate tariffs on beef, which are as high as 34 percent, in three to eight years, while Malaysia will lock in all tariffs at zero percent. Meanwhile, Japan will reduce duties on nearly 80 percent of tariff lines related to pork within 16 years. Vietnam also will eliminate tariffs on pork products within five to 10 years and Malaysia will end all tariffs within 15 years.

In response to the release of the details, Meat Institute President and CEO Barry Carpenter urged quick Congressional passage of the agreement saying, “This agreement holds enormous potential for U.S. agriculture and levels the playing field for American workers and businesses in the world's fastest growing economic region. In addition, TPP will strengthen our strategic relationships with trading partners in the critical Asia-Pacific region.”

The Foreign Agricultural Service (FAS) published a series of interactive fact sheets detailing the benefits of TPP for the U.S. economy and the agriculture industry. The fact sheets underscore the benefits for all50 states and several agricultural products, including beef, pork and poultry. USTR also has launched a website with information featuring specifics about the agreement and outlining TPP’s economic and geopolitical benefits.

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