Ag News, Monday September 26, 2016

Chance for TPP Passage Slim

Vice President Joe Biden said last week the chances for Congress to approve the Trans-Pacific Partnership trade deal were slim. Biden said he sees a “less than even chance” that the U.S. Congress approves the 12-country trade pact before the next administration takes office in January, according to Fortune Magazine. Biden made the remarks while speaking to the Council on Foreign Relations in New York. He says the brief lame-duck session is “our only real shot” for approving TPP. The trade deal is the final cornerstone of the Obama administration as the President is pressing Congress to approve the agreement. However, with both presidential candidates speaking out against the trade deal, Congress has been reluctant to consider TPP. Leadership of the House and Senate say there will not be a vote on TPP this year, and that there may not be enough votes in the House to approve the trade deal. Other countries are holding out on approval, pending action by the United States.

Heritage Foundation Slams Farm Bill

The Heritage Foundation last week released its most sweeping critique of U.S. agriculture policy, according to Politico. The foundation called on Congress to revamp its approach to crop insurance, food stands, renewable fuels and trade. The 148-page report calls on Congress to eliminate the Renewable Fuels Standard along with trade-stifling tariffs and tariff rate quotas. The report also criticizes Congress for subsidizing cotton producers, a move the Foundation says opens the U.S. to World Trade Organization disputes, and for acting slowly to stop country of origin labeling for meat. While Politico reports many of the suggestions may never be realized, the report could influence some conservative members of Congress to eliminate support for farmers to balance the budget. Agriculture leaders in the House and Senate insist the current Farm Bill will not be reopened, and consideration of the next Farm Bill are sometime in 2017.

Source:  NAFB News