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Australia touts benefits of U.S. rejoining TPP

An Australian trade official stressed the benefits of the United States rejoining the Trans-Pacific Partnership (TPP).

Australian Ambassador to the United States Joe Hockey addressed the Washington International Trade Association (WITA) Monday. Politico reports Hockey spoke on the need to engage with the Asia-Pacific region for security and economic reasons.

In prepared remarks, Hockey stated: “Having the United States return to the TPP in the future would represent a net positive for Australia and for the region’s trade and investment growth prospects.” However, there is no indication of President Trump’s intention, other than a consideration to rejoin TPP if the trade deal is reworked.

The United States agriculture industry is no stranger to TPP’s benefits. The American Farm Bureau Federation (AFBF) says the agreement would increase U.S. agricultural exports by roughly $4.4 billion per-year.

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