U.S. and Canadian Perspectives on Trans-Pacific Trade
March 4, 2019
National Press Club, Washington, D.C.
The U.S. food and agriculture sector is watching closely as a multitude of trade issues and policies play out in global negotiations. The Farm Foundation Forum on Monday, March 4, 2019, examined the economic impacts those decisions may have on U.S. agriculture, as well as what one specific agreement means for the Canadian agricultural sector.
At the Forum, U.S. and Canadian Perspectives on Trans-Pacific Trade, the findings of two new studies of potential economic impacts of trade policies were discussed by Dominique van der Mensbrugghe, Ph.D., Director of the Center for Global Trade Analysis (GTAP) at Purdue University, and Don Buckingham, Ph.D., CEO of the Canadian Agri-Food Policy Institute. Farm Foundation President Constance Cullman moderated the session.
Audio of this Forum is available for review.
The Purdue analysis examines the economic implication to U.S. agriculture of various trade policy scenarios—ranging from the effects of the United States not participating in the new Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP or TPP11), to terminating the existing North American Free Trade Agreement (NAFTA), to rejoining the Trans-Pacific Partnership (TPP) agreement. Review van der Mensbrugghe’s presentation here. This work builds on an analysis Purdue economists completed in October 2018 at the request of Farm Foundation on the United States-Mexico-Canada Agreement (USMCA).
Buckingham reported on CAPI’s analysis of the economic activity generated for Canadian agriculture as a result of Canada’s participation in the TPP11, which became effective there Dec. 30, 2018, in Canada. When fully implemented, TPP11 will include Canada, Australia, New Zealand, Japan, Mexico, Singapore, Vietnam, Peru, Chile, Brunei and Malaysia. The United States was part of the original TPP but withdrew from the agreement in January 2016. The CAPI analysis is available here.
The Forum: Farm Foundation organizes these public forums to engage all stakeholders in informed dialogue on food, agricultural and rural policies. Participants examine current policies, explore and analyze alternative policy options, and give voice to new proposals.