National Pork Producers Council president David Herring and president-elect Howard “A.V.” Roth joined President Trump and Japanese Prime Minster Abe today for the signing of a trade agreement that will once again allow U.S. pork producers to compete on a level playing field in Japan. The signing took place in New York during the United Nations General Assembly meeting.
“I am honored to represent U.S. pork producers today at a signing ceremony so important to my fellow hog farmers around the country,” says Herring, a pork producer from Lillington, N.C. “We've seen market share declines in Japan, historically our largest value export market, since the start of the year when international competitors gained more favorable access through new trade agreements. Once implemented, the agreement signed today puts U.S. pork back on a level playing field with our competitors in Japan.”
Dermot Hayes, an economist at Iowa State University, estimates exports to Japan could grow from $1.6 billion in 2018 to more than $2.2 billion over the next 15 years under market access terms included in the agreement.
U.S. pork is highly dependent on exports, shipping more than 25% of total production to foreign markets. Other NPPC trade priorities include ratification of the U.S.-Mexico-Canada agreement, which preserves zero-tariff pork trade in North America, and resolving trade disputes with China that will enable U.S. pork producers to capitalize on an unprecedented sales opportunity with the world’s largest pork-consuming nation.