Texas Trade Issues Parr Rosson Center for North American Studies Department of Agricultural Economics Texas Cooperative Extension.

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Presentation transcript:

Texas Trade Issues Parr Rosson Center for North American Studies Department of Agricultural Economics Texas Cooperative Extension

Texas Trade Issues Cuba BSE Trade Agreements

Cuba New Export Opportunities Texas Has Been A Major Player Potential for $50-$65 million/year in food/agriculture exports Creates New Jobs & Business Activity Higher Prices Likely as Market Expands

Bovine Spongiform Encephalopathy (BSE) U.S. Exports 9-10% of Beef Output Mega Markets Closed –Japan, Mexico, Korea (80%) –Canada (10%) Cattle Prices Down 20%-22% Corn Prices Down 7%, Soybeans 4% The Future?? Japan Says NO BEEF! –US Beef Demand Holding Steady –Associations & USDA Working to Restore Export Markets

Trade Agreements NAFTA at Year 10 Chile, Singapore, & Jordan Done Morocco, Australia, Central America, & Free Trade of the Americas in Process World Trade Organization Trying to Restart –Retaining Protection of ‘Peace Clause’ Crucial for U.S. Agriculture & Open Markets

CAFTA Central America Free Trade Agreement: El Salvador, Guatemala, Honduras, Nicaragua Included Now Costa Rican Representatives in D.C. This Week & Want to Be Included –Services & Agriculture Unresolved Issues Negotiations with Dominican Republic Next Week About ½ of Markets Open to U.S. Agriculture When Implemented (Jan. 2005)?? –HQ Beef, Cotton, Wheat, Soybeans Rest Over 15 Years: Pork, Beef, Poultry, Rice, Corn, Dairy

Free Trade Area of the Americas Open Markets in Western Hemisphere –Average US Ag. Tariffs 12% –South America: 40% –Caribbean: 85% Negotiations Moving Forward, But Slower than Expected: Brazil a Sticking Point Target Date for Completion 1/05 Target Date for Implementation 1/06

So What for Texas? More Markets, More Exports, Good Potential for Higher Prices Likely More Competition in Some Sectors –Oilseeds, Maybe Cotton –Meats-But Sanitary Issues Critical –Winter Vegetables & Some Fruit Products Opportunity for Input Into the Process

U.S. Trade Promotion Authority ‘Fast Track’ All Trade Agreements Submitted to Congress by President for Approval CAFTA Likely to Go Forward Soon Congress MUST Vote w/in 45 Session Days, Simple Majority No Amendments Allowed Key Committees: –House Ways & Means –Senate Finance –Agriculture