Edwards made his announcement recently alongside a bipartisan group of governors attending the National Governors Association’s summer conference. The group included Gov. Terry Branstad of Iowa, Gov. Terry McAuliffe of Virginia, Gov. Brian Sandoval of Nevada and Lt. Gov. Kim Reynolds of Iowa.
“Louisiana is a trade powerhouse,” said Edwards. “We have built a thriving international commerce and trade economy and have one of the largest port complexes in the world. The TPP will directly impact Louisiana businesses and open the pathway for improved commerce and trade between the United States and our Pacific Rim partners.”
In 2015, Louisiana exported over $49 billion worth of goods and continues to rank among the top 10 exporting states in the nation. According to the U.S. International Trade Administration, $17.5 billion in Louisiana products were exported to TPP countries in 2014, equaling 27 percent of all Louisiana goods exports.
In addition to the United States, there are 11 Trans-Pacific Partnership countries, including Australia, Brunei Daraussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
The text of the trade agreement needs to be signed and ratified by all 12 participating countries.
The trade deal eliminates more than 18,000 tariffs on goods made and grown in the United States, including a 40 percent tariff on poultry, a 7 percent tariff on oysters, a 25 percent tariff on paint and a 33 percent tariff on soybean products.