WASHINGTON, D.C. — Wine Institute applauds the governments of United States and 11 other Pacific Rim nations for successfully completing the Trans-Pacific Partnership (TPP) negotiations to eliminate tariffs faced by California wineries abroad, remove non-tariff barriers and set enforceable rules for trade.
"Strong and market-opening trade agreements grow the U.S. economy and create and support well-paying U.S. jobs. We believe that TPP will deliver these results," said Wine Institute President and CEO Robert P. (Bobby) Koch. "We congratulate the Administration for its hard work and look forward to reviewing the details of the agreement and continuing to work with Congress and the Administration on the TPP."
As a result of free trade agreements implemented since 1989, U.S. agricultural exports have nearly quadrupled in value and now stand at a record $152.5 billion for fiscal year 2014. For wine, the percentage growth is even more dramatic. “Trade agreements have helped level the playing field and grow U.S. wine exports by 1,420 percent from $98 million in 1989 to nearly $1.5 billion last year," Koch added.
The 12 TPP countries are Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, United States, and Vietnam. For more information on the agreement, see https://ustr.gov/about-us/policy-offices/press-office/press-releases/201....
Wine Institute is the association of nearly 1,000 California wineries and related businesses. California wine represents 90 percent of U.S. wine production, 90 percent of U.S. exports, contributes over $120 billion annually to the U.S. economy and generates 820,000 jobs nationwide. U.S. wine exports reached $1.49 billion in winery revenues in 2014, a 64 percent increase from five years ago. U.S. wineries shipped over $641 million of wine to TPP countries in 2014, representing over 40 percent of total U.S. wine exports.
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