TPP downfall will hit Australian sugar
US President-Elect, Donald Trump, has announced America will leave the Trans-Pacific Partnership (TPP) on day one of his presidency.
As part of a video released yesterday by Trump, he described the TPP as a “potential disaster” for the USA.
Instead of America being a part of the TPP, Trump said he will negotiate “fair and bilateral trade deals which bring jobs and industry back on American shores.”
One of the bilateral trade deals currently being discussed will be with the United Kingdom.
Multiple times throughout his election campaign, Trump said America would be leaving the TPP if he was elected.
The TPP international fair trade agreement, between 12 countries, including Australia, was finalised in October 2015 after negotiations began in 2010.
One of the sticking points of TPP involving Australia was Australia’s access to the US’ large sugar market, with the Australian sugar industry pushing hard to export more Australian sugar into America.
The outcome of those negotiations of the proposed TPP was that Australia would have been allowed to export an extra 65, 000 tonnes of sugar into the US annually.
Related articles
Australian agribusiness export concern on Trump election
Australia’s entry into Trans Pacific Partnership and what it means for the food industry
Trump brand damage concern: Donald Trump lesson exposed
The 109-year-old Australian pie brand Herbert Adams has officially turned tradition on its head with...
After 15 years of operations in Australia, Aldi believes that its present 10 per cent market share w...
A new brand of antibiotic-free chicken is now available at Coles supermarkets.
Young Australians look for a job within the food industry might need to focus on best utilising thei...
Victorian business Kez’s Kitchen is now selling new health-focused bars and cookies through Woolwort...
Coca Cola Amatil has acquired Western Australian independent brewer Feral Brewing Company.
Bellamy’s has acquired the Camperdown Powder canning facility in Braeside, Victoria.
WHAT nation with a population predicted to overtake China's poses as vegetarian but as it urbanises ...