The Importance of International Trade for US Pork Producers
In honor of World Trade Month, it is essential to understand the significance of international trade for US pork producers and the US economy. The National Pork Producers Council (NPPC) emphasizes that US pork farmers have built a global reputation for providing high-quality, safe, and affordable pork products to both domestic and foreign markets. To maintain and grow exports, the United States must work to open new markets and expand existing ones through trade agreements and market access deals that support high-paying jobs in rural communities.
Exports and Economic Impact
The US pork industry relies heavily on exports, with $7.6 billion worth of pork exported to over 100 foreign destinations in 2022. These exports account for more than $61 in value for each hog marketed annually in the US, supporting more than 155,000 jobs and contributing over $14.5 billion to the economy. The NPPC advocates for social, environmental, and economic sustainability, supporting reasonable public policies that allow US pork producers to export products globally. They strive to eliminate tariff and non-tariff barriers to US pork exports through trade agreements and initiatives.
Expanding Preferential Trade Agreements
NPPC President-elect Lori Stevermer emphasizes the need for the US to maintain current markets while extending preferential trade agreements to smaller and lesser-developed countries. Over the past decade, the US has become increasingly reliant on foreign markets, exporting more to the 20 countries with free trade agreements than to the rest of the world combined. Expanding market access can significantly impact American pork farmers, making the US more globally competitive by boosting exports, supporting jobs, and providing nutritious and affordable pork products to consumers worldwide.
Challenges and Opportunities for US Pork Industry
While the US pork industry continues to thrive on the global stage, it faces challenges, such as trade barriers, geopolitical tensions, and disease outbreaks that may affect production and trade. It is crucial for the industry to remain vigilant and adaptive to changing market dynamics. Embracing technology, diversifying markets, and engaging in international trade diplomacy can help ensure the US pork industry’s long-term success and its continued positive impact on the national economy.