Agricultural News
Soy Growers Delighted As President Signs Trade Promotion Authority Into Law
Mon, 29 Jun 2015 14:57:25 CDT
Trade promotion authority (TPA) will soon help create and strengthen international trade agreements, opening valuable markets and providing an advantage for U.S. farmers.
President Barack Obama signed TPA into law on Monday, June 29, 2015.
Soybeans represent the nation's most important agricultural export and international trade plays a crucial role in the industry, as well as the many benefits trade yields for the country.
TPA was a key priority for the American Soybean Association (ASA) in the 114th Congress. The bill gives the U.S. Trade Representative (USTR) the ability to get the best deal possible, and it provides Congress the oversight it needs to ensure every agreement will work for American farmers.
TPA is critical for soybean farmers because new trade agreements expand market access as we look to maintain our position at the vanguard of world agricultural trade.
In addition, new trade agreements will expand livestock product exports, which are also important for U.S. soybean farmers.
The passage of TPA is also vital to moving toward finalizing negotiations on the Trans-Pacific Partnership (TPP) which includes important export markets for U.S. soybeans and meats, as well as the developing markets that grow in their demand for American soy every day.
ASA thanks the hundreds of farmers who contacted their lawmakers and worked to make soy growers' voices heard on TPA for the past several months.
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