May is World Trade Month. John Deere has long supported expanded and enhanced global trading relationships that benefit our customers and help our operations.
Rising living standards mean enhanced diets and improved infrastructure and shelter, and these improvements are made possible through pro-trade policies that open economies and foster growth.
In the short video above, John Deere chief economist J.B. Penn provides additional insights into the importance of freer trade and what it means to the U.S., our customers, and to John Deere.
At the forefront of this discussion is the Trans-Pacific Partnership (TPP), a free trade agreement recently negotiated by the U.S. and 11 countries in the Asia-Pacific region. Trade between the U.S. and TPP countries exceeded $1.5 trillion in goods and $270 billion in services in 2013. The U.S. Coalition for TPP says that if ratified, the new agreement would have the potential to become the largest U.S. free trade agreement in history.