Minnesota Businesses, Farmers Concerned About Global Trade
ST. PAUL, Minn. (AP) - Minnesota business leaders and farmers say the end of America's participation in the proposed in the Trans-Pacific Partnership trade deal may have been abrupt, but came as no surprise since the presidential campaign foreshadowed the move.
Most analysts say the 12-nation agreement would have reduced prices and boosted sales abroad for automakers, farmers and tech companies. President Donald Trump believes he can strike better deals on his own.
Minnesota Business Partnership executive director Charlie Weaver says one in five jobs in the state depends on international trade. One concern is soybeans because the door opens for Brazil and other soybean exporting countries to grab a bigger market share in the Pacific. Minnesota is the nation's third largest soybean exporter, with sales of about $2 billion a year.