Key points

• The Trans Pacific Partnership delivers tariff reductions and improved market access for Australian agricultural products. With TPP countries representing a third of Australian agricultural exports, these benefits are potentially significant. However, as a multilateral agreement, the TPP will likewise reduce tariffs and improve market access for other agricultural exporters within the TPP region. In certain circumstances this could see Australia’s competitive position left steady or even eroded by the agreement, although lower tariff rates overall remain advantageous

• The full details of the TPP are yet to be released, and hence a comprehensive assessment of the costs and benefits to Australia is not currently possible. At this stage, there is little clarity around any concessions made.

For more information please refer to the attached report.

Trans-Pacific Partnership – Highlights for agriculture (PDF, 919KB)