New Trans-Pacific Trade Deal in effect

WHO Radio

DES MOINES, Iowa - The United States did not end up taking part, but eleven countries representing about a quarter of the world economy did.

The new Trans-Pacific Partnership (TPP) is officially in effect.

The deal includes Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam.

The U.S. was a large contributor to the formation of the trade deal; however, President Donald Trump pulled out of the deal soon after taking office.

Since then, the U.S. has pursued a bilateral trade deal with Japan, the largest member of TPP.

The office of Trade Representative has also opened up negotiations with the United Kingdom, and the European Union (EU).

For the EU in particular, there is an opportunity for agriculture. As the second largest collection of economies in the world, the U.S. surpassed Brazil as its number one soybean supplier in 2018.

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