Brexit Could Stymie TTIP Deal With EU
Midwest producers eager to get more products into Europe have cause for concern after the UK voted to leave the EU.
U.S. agriculture has had its eyes on the Transatlantic Trade and Investment Partnership, or TTIP, to loosen up tariffs in the EU on dairy and meat products. Agricultural policy analyst Julian Binfield at the University of Missouri says the momentum created by the recent UK vote--the so-called Brexit--could stymie that deal.
“Maybe the spirit of that might spread and people will decide they don’t want to be part of these big trade agreements and market access," he says.
Binfield also says a strong dollar and weak Euro will lead to the EU looking for cheaper commodity imports from U.S. competitors.