President Obama is embarking on a trade tour through Asia this week. Obama and 11 other Pacific Rim leaders met on Wednesday for the first time since negotiators completed the Trans-Pacific Partnership trade deal. Obama urged the group to ratify the deal as quickly as possible.
A strong U.S. dollar, weakening foreign economies and stiff competition have made it an uphill climb for U.S. meat exports in retaining market share around the world.
U.S. Meat Export Federation President and CEO Phillip Seng thinks the Trans-Pacific Partnership deal will enhance agricultural trade. He was in attendance at the National Association of Farm Broadcasting’s annual convention and Trade Talk event in Kansas City last week.
Beef exports were down 13 percent in volume and 10 percent in value year over year in the first nine months of the year and while pork exports held steady in quantity, they were down 16 percent in value, according to USDA statistics compiled by the U.S. Meat Export Federation.