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US farm analysis backs FTA
17 Mar 2004
An analysis compiled for the American Farm Bureau claims that the US-Australia free trade agreement will benefit farmers in both countries. But the bureau said it will support the trade deal as long as Australia's quarantine system is streamlined and improved.
The analysis states that US farmers could benefit by up to $US420 million ($A571 million) by 2022 under the FTA and Australian farmers by $US200 million ($A271 million). But Australia's benefits could be just $US120 million ($A163 million), as changes to US beef tariffs are unlikely to result in a large increase of Australian beef exports.
The largest gains to US farmers would come if Australia's quarantine system were streamlined.
For Australia, gains are likely in Australian cheese displacing European cheese in the US. For the US, gains for product into Australia are likely to be pork, poultry, fresh vegetables and semi-processed foods.
Tradingroom.com.au, 16/3/04.
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