USDA on TPP benefits for US agriculture

In a detailed assessment by USDA of the benefits to US Agriculture under the proposed Trans-Pacific Partnership (agreed this week in detail but still subject to legislative ratification in the twelve countries concerned), cotton features in only a few respects: Under the TPP agreement, all of Vietnam’s tariffs on cotton, currently as high as 10 percent, will be eliminated in four years or less; tariffs on cotton in Japan and Malaysia will remain at zero percent; the United States will eliminate tariffs on cotton which it states are “currently as high as 31.4 cents/kilogram (approximately 19.6 percent ad valorem equivalent)”, in 10 years or less.

The full report can be found here.

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