TPP and the price of Thanksgiving dinner

TPP and the price of Thanksgiving dinner

Bob Larson
Bob Larson
I'm Bob Larson with your Agribusiness Update. President-elect Trump says he will follow through on campaign promises to withdraw the U.S. from the 12-nation Trans-Pacific Partnership, or the TPP, the trade pact that is still supported by much of the agriculture sector.

Trump says he asked his transition team to come up with a list of executive actions to be ready for his first day in office, and at the top of that list is pulling the U.S. out of the TPP.

Trump says instead, we will negotiate fair bilateral trade deals that bring jobs and industry back onto American shores.

The cost of this year's Thanksgiving dinner is less than it was a year ago, with turkey leading the way in lower prices. At the same time, the amount of corn used to make ethanol will set a new record in 2016, up roughly 3% from last year.

A new analysis from Informa Economics takes a look at food prices over the past ten years in the era of ethanol and finds food versus fuel is still a myth, even though ethanol detractors continue to bring it up.

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