Friday, June 4, 2021

The Asia Pacific Trade Deal

What is the most important things we need during the Covid-19 pandemic? Food. 

Excerpt - Article from WITA (Washington International Trade Association), 12 May 2021. 

"Although agriculture comprises only about 10% of total U.S. exports, the agricultural sector in the U.S. and other countries account for a large share of trade policy considerations. Rejoining the accord has the potential to establish economic ties with emerging economies like Vietnam and Malaysia and embrace the need for improved trade relations in Southeast Asia overall.

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership could be the easiest path forward if the U.S. wanted to improve trade relations with Southeast Asia. Joining this partnership could be especially beneficial based on the volume of agricultural trade and expected growth in these markets. At an approximate US$14.3 billion annually, Southeast Asia accounts for a significant amount of U.S. agricultural exports, making it the fourth-leading destination behind China, Canada and Mexico."

https://www.wita.org/blogs/american-farmers/

Image credit - WITA

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