Aussie tuna barons will take hit from TPP

The signing of the Trans-Pacific Partnership (TPP) trade agreement — by 11 countries in Chile on March 8 — could give some producers better access to overseas trade markets but it will cost the tuna industry in Port Lincoln, Australia millions of dollars a year, reports the Port Lincoln Times

Brian Jeffriess, Australian Southern Bluefin Tuna Industry Association chief executive officer, said the TPP would cost the industry about AUD 5 million a year, rising to AUD 8m a year after 2020.

The agreement cancels out the 3.5% tariff advantage the Australian tuna industry had under the old Australia/Japan Free Trade Agreement, Jeffriess said. 

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