|Ron Prestage was going to build a pork processing plant.|
(Politico photo by M. Scott Mahaskey)
Pulling out of the trade agreement doubly hits places like Eagle Grove, Iowa, where voters went 2-for-1 for President Trump. A new meat-processing plant was supposed to provide a $10 billion bump to the local economy over 15 years, but the withdrawal from the TPP means that bump won't materialize. And the resulting negotiations by other exporter countries means they will face more competition for their meat.
"For much of industrial America, the TPP was a suspect deal, the successor to the North American Free Trade Agreement, which some argue led to a massive offshoring of U.S. jobs to Mexico. But for the already struggling agricultural sector, the sprawling 12-nation TPP, covering 40 percent of the world’s economy, was a lifeline. It was a chance to erase punishing tariffs that restricted the United States—the onetime “breadbasket of the world”—from selling its meats, grains and dairy products to massive importers of foodstuffs such as Japan and Vietnam," Adam Behsudi reports.
The industries affected by ongoing trade negotiations are wide-ranging, but the Politico article has a great breakdown.