U.S. Trade Representative Michael Froman says before a final Trans Pacific Partnership agreement can be reached, several outstanding issues must be solved. 60 members of Congress point out that currency manipulation and value added tax problems need addressing. Nebraska Farmers Union President John Hansen says that’s significant because it’s led to a major trade deficit for the U.S.
Hansen says the total trade deficit for the U.S. with all agreements is now in the neighborhood of $ 7 trillion. He says agriculture does better with no trade agreements than with those already in place.
The Obama administration is hoping to get the TPP done by the end of the year but these outstanding issues along with the government shut down have hampered that progress.