Vilsack TPP

Agriculture Secretary Tom Vilsack recently discussed the benefit of the Trans-Pacific Partnership (TPP) for agriculture. "To put a fine point on the important role that exports play in American agriculture, 30% of sales of American agricultural products are directly related to export and 20% of all farm income is directly related to exports so it's pretty important that we look for additional market opportunities to expand the reach of American agriculture, the quality, the quantity, the safety and the affordability of what American producers can provide. Some time ago, the Peterson Institute did a report taking a look at the Trans- Pacific Partnership and determining whether or not it would be beneficial to the American economy overall. This report indicated that by the year 2030, America would see across its economy an additional $357 billion of export activity, a portion of which would be directed to agriculture. This would raise incomes for Americans by $131 billion by that year. The bulk of income gains would go to workers and farmers, particularly high wage workers because we know that export related jobs are indeed higher-paying jobs. We also know from the Peterson report that a delay in approving and implementing the Trans- Pacific Partnership could cost the American economy.