A new trade treaty among 11 nations that doesn’t include the United States leaves worried American farmers to face significantly stiffer international tariffs than their competition. The new Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) treaty goes into effect Sunday. It will slash tariffs across much of the Pacific rim region — but not for the U.S. since Trump administration officials pulled out of negotiations last year. Cuts will also be implemented in Vietnam, Brunei, Chile, Malaysia and Peru in early 2019. Japan has also worked out a similar tariff deal with the European Union that will go into effect Feb. 1, according to CNN.

Source: Huffington Post December 30, 2018 04:30 UTC