Free trade is beneficial farmers. For instance, a strong free trade agreement makes it possible for farmers to have market opportunities and meet food demands around the world. The economic stimulus from worldwide demand for American products also helps each of us feed our families.
A study conducted by the American Farm Bureau Federation o
n the Trans-Pacific Partnership (TPP), a free trade agreement that is already negotiated and waiting for Congressional approval, explains that the American economy benefits from a $4.4 billion revenue increase that not only sustains farming within the United States but also helps to contribute to a healthy American economy.
- Livestock receipts with implementation are $5.8 billion higher with approval than without. For the crops sector –including fruits and vegetables—receipts are $2.7 billion higher. Net farm income is also $4.4 billion higher.
- S. beef and pork exports are expected to be $1 billion and $940 million higher, respectively.
- Farm prices for corn, soybeans, wheat, rice, cotton, fed steers, feeder steers, barrows and gilts, wholesale poultry and milk are all projected to be marginally higher with the agreement in place than without.
- Net trade rises for rice, cotton, beef, pork, poultry, butter, cheese and non-fat dry milk
- Net trade of corn declines slightly, but overall use increases and corn revenue rises as higher feed use is needed to provide for the added beef and pork exports rather than being exported as raw commodities.