Equipment giant John Deere has called on the US Congress to ratify the Trans Pacific Partnership in order to boost the global economy.
Deere chairman and chief executive Samuel Allen said a strong US trade agenda would provide jobs for “American workers, farmers and businesses”.
He said the global marketplace was important to the company with nearly 40 per cent of revenues coming from sales outside the US and Canada.
With export stock from the company’s main factories in Iowa and Illinois accounting for up to a quarter of all production off the line at the plants, Deere can see an opportunity to build market share in TPP signatory countries which includes Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, United States, and Vietnam.
Deere said the TPP would boost trade flows among all participants and strengthen global food security by improving efficiency in meeting food and feed needs as well as improving infrastructure across the Asia-Pacific region.
"TPP delivers transparent and consistent rules for our investments and freer trade for our products, both of which are increasingly more important as Deere's global footprint has grown," Mr Allen said.
"The agreement's provisions enhance the business environment in these important economies, making Congress's swift ratification of the agreement important to Deere and our customers."