A Goulburn Valley-based wine producer has slammed the decision of President Donald Trump to pull out of the Trans-Pacific Partnership as a step backwards for global trade.
Andrew McPherson from Nagambie-based McPherson Wine said the new United States President was talking up ‘‘isolationism and trade barriers’’.
President Trump lived up to his campaign promise on his first full day on the job on Monday last week when he signed an executive order to pull the US out of the contentious trade deal.
The proposed trade agreement was to include 12 Pacific Rim countries, including Australia, in a mass trading bloc that would have included 40 per cent of global GDP.
Mr McPherson’s wine business has slowly moved into foreign markets in recent years, and he said Australian wine was a global commodity that would have benefited from the TPP.
‘‘Anything that promotes trade within a group of countries has got to be beneficial,’’ he said.
‘‘If he (Trump) wants to put up tariffs or trade barriers, it’s not going to make us all that commercially attractive.’’
VFF president David Jochinke said the potential end of the TPP was not a good thing for Victorian producers.
‘‘In Australia we definitely rely on trade because we don’t have a domestic market that can consume everything we grow,’’ Mr Jochinke said.
‘‘So anything that gives us more options is definitely a positive.’’
He said the TPP looked like it would have given farmers more access to key markets in Japan and Mexico.
‘‘Livestock was going to get trade advantages,’’ he said.
Although Trump’s actions could mean the end of the agreement, Trade Minister Steven Ciobo was still hopeful negotiations would continue between the remaining 11 nations.
‘‘There’s quite a lot of countries that have an interest in looking to see if we could make a TPP-12-minus-one work,’’ Mr Ciobo said on ABC radio last week.
- Barclay White