International Trade Deal May Impact Wyoming

www.CGPGrey.com
By Staff

An international trade deal has the potential to impact many businesses across the state. The United States and 11 other nations ended negotiations earlier this month on the Trans-Pacific Partnership.

The deal is the largest multi-nation trade agreement and could alter how a variety of products and raw materials are bought and sold. Wyoming exports some $800 million worth of goods including minerals and fuels, agricultural products and machinery components each year to the Asian Pacific countries that are incorporated in the deal.

Supporters say it will open up trade opportunities for many Wyoming products, such as beef and other agricultural goods, by lowering tariffs and reducing trade barriers. Opponents however, warn that the agreement could devalue American-made products and cause companies to move more jobs overseas similar to the most recent trade deal, the North American free trade agreement.

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