U.S. Beef Producers Score in Trade Deal with China

The Trump administration has reached an agreement with Beijing on a broad range of trade measures, one of which opens a promising market for American cattle farmers.

A plan developed between the two countries includes opening China’s borders to American beef by mid-July.

China is the world’s fastest growing beef market. It represents a $2.5 billion opportunity to U.S. ranchers and meatpackers. China banned most beef imports in 2003 in response to mad cow disease.

The National Cattlemen’s Beef Association (NCBA) responded enthusiastically, saying it is “impossible to overstate how beneficial this will be for America’s cattle producers.”

NCBA President Craig Uden said he looks “forward to the day when we can serve President Trump and President Xi a dry-aged American-made New York strip in Beijing.”

In return for lifting the beef ban, the U.S. promised China it would remove obstacles to importing Chinese poultry meat and pledged that it “welcomes direct investment by Chinese entrepreneurs.” The agreement also offers opportunities to this country’s electronic-payment providers and natural-gas exporters.

The U.S. Chamber of Commerce issued a lukewarm statement in response to the plan, saying that it is “hopefully ensuring full and timely implementation of commitments China has already made” and that “the real work lies ahead.”

Source: Bloomberg, NCBA