The following is a statement from Illinois Farm Bureau (IFB) President Richard Guebert, Jr., regarding the withdrawal of the U.S. from the Trans-Pacific Partnership (TPP) Trade Agreement.
“Illinois agriculture depends on free trade agreements to sell our products. Currently, 46 percent of Illinois exports go to Trans-Pacific countries. The TPP was expected to increase Illinois’ cash receipts and net exports by $281.1 million and $127.4 million per year respectively. It is estimated that the increased marketing opportunities for Illinois farmers would have added more than 960 jobs to the Illinois economy.
“President Trump’s executive order to withdraw the United States from the TPP is another setback to an already struggling economy. With TPP being halted, we implore the administration to start working toward opening new markets for Illinois crop and livestock farmers.
“Illinois agriculture also has benefited from the North American Free Trade Agreement (NAFTA). We hope the administration will recognize the importance of NAFTA to Illinois farmers’ income when renegotiating the deal. We look forward to working with our members of Congress and the administration to send the message that trade deals create opportunities for consumers and farmers.”