MOLINE, Ill., Feb. 3, 2016 /CNW/ -- Deere & Company
(NYSE: DE) today urged the U.S. Congress to ratify the
Trans-Pacific Partnership (TPP), saying the trade agreement signed
by 12 countries today is a much-needed step to boost the global
economy.
"A robust U.S. trade agenda expands jobs and opportunities for
American workers, farmers and businesses," said Samuel R. Allen, Deere & Company chairman
and chief executive officer. "This benefits our customers, our
employees, and expands our business opportunities."
Allen said the global marketplace is important to Deere's
employees as nearly 40 percent of the company's revenues already
come from sales outside the U.S. and Canada. Exports at Deere's larger agricultural
and construction equipment factories in Iowa and Illinois account for between one-third and
one-fourth of all units manufactured at those facilities.
Deere serves customers in the TPP participating countries and
has facilities in seven of them. The agreement is expected to 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,"
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."
The participating countries signed the TPP today in New Zealand, taking another step toward
ratification and implementation of the agreement. TPP members
account for about 40 percent of the global economy and one-third of
world trade. Initial TPP countries include Australia, Brunei, Canada, Chile, Japan,
Malaysia, Mexico, New
Zealand, Peru, Singapore, United
States, and Vietnam.
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SOURCE Deere & Company