Home 5 Ag Stories Pacific Rim countries could sign different agreement if U.S. doesn’t pass TPP

Pacific Rim countries could sign different agreement if U.S. doesn’t pass TPP

by Ben Nuelle

The White House Council of Economic Advisers says if Congress fails to act on the Trans-Pacific Partnership there are risks to American workers and businesses.

The White House CEA released a study Thursday.

Jason Furman is Chairman of the Council of Economic Advisers.

“What we do in this study is look at the regional comprehensive economic partnership which is a 16 country trade agreement being negotiated be China and other partners,” Furman says.

Furman says it includes seven countries in TPP.

U.S. Trade Representative Ambassador Michael Froman.

“Literally as we speak, trade ministers from 16 RCEP countries are convening in the Philippines to kick off another round of negotiations. Their hope is to finish that agreement this year or soon thereafter. There work towards finishing that agreement has accelerated.”

Kevin Kester, Vice President of the National Cattlemen’s Beef Association.

“If the U.S. does not move forward with TPP, we will essentially allow China to dictate the future of commerce in the Pacific Rim. We have been told by counterparts in the Pacific Rim, they have grave concerns emerging as leaders in trade if  TPP does not get ratified by congress.”

TPP’s last chance is in the lame duck session.

Read the full brief HERE

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