Last week, the long-awaited text of a landmark U.S.-backed Pacific trade agreement was finally released. The Trans-Pacific Partnership, an agreement among 12 nations, is designed to lower or eliminate tariffs, establish international rules for intellectual property, and tamp down currency manipulation.
What does this have to do with Texas? A lot, especially for ranchers. Many of them are eager to put the Texas brand on the overseas meat market, but it’s far from clear whether this agreement allows that.
Michael Lindenberger reports from Washington for The Dallas Morning News. He says this new deal will affect ranchers of all sizes but larger ones may have more at stake.
“The big ranchers are probably paying more attention that the small ranchers,” Lindenberger says. “This offers them a chance to get a bigger market. It also introduces increased competition as more beef will come in from other places to America.”
In this segment you’ll hear:
– Since Texas already does business with 11 of the countries included, what does this really change for Texas ranchers?
– Why Texas beef has a special reputation in the international markets and how that may affect the prices they can charge
– What will happen with this trade deal next, including a Senate vote
Listen to the full interview in the player above.