AGRIBUSINESS: Baucus Says TTIP Success Depends On Overcoming Agricultural Barriers
The Senate Finance Committee met Wednesday to discuss the Transatlantic Trade and Investment Partnership.
Among other witnesses the committee heard from the President of the Montana Grain Growers Association and Senior Vice President of the National Chicken Council. Finance Chair Max Baucus said the proposed agreement between the U.S. and the European Union is an opportunity we must jump at quickly. But he added that negotiators must address the EU’s unscientific and unjustified barriers to U.S. agricultural exports, including beef and poultry, for the deal to succeed.
According to Baucus, the new trade agreement could boost exports to the EU by a third and add more than $100 billion annually to U.S. GDP. In addition, Baucus says the TTIP could support hundreds of thousands of new jobs in the U.S.
Also during the hearing Wednesday, Baucus called on Ranking Member Orrin Hatch to join him in introducing, and passing quickly, a bill to grant the President trade promotion authority. Hatch stated that he and Baucus are already working with their House counterparts to write a TPA bill. He called on President Obama to work with Congress to get it passed.