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AP

EU trade deal to expand access for U.S. beef


News Staff - August 5, 2019

STURGIS, SD -  In efforts to de-escalate trade tensions with the European Union, President Donald Trump announced an agreement Friday, August 2, 2019  to boost beef exports. The South Dakota Cattlemen's Association (SDCA) applauded the announcement.  

"President Trump and his trade team demonstrated their commitment to South Dakota's cattlemen and women with this deal that will expand market access for U.S. beef," said Todd Wilkinson, SDCA past president and policy division vice chairman of the National Cattlemen's Beef Association. "While there's still much work to be done, we appreciate this opportunity to provide more of our high-quality beef to European consumers."

The agreement comes as the agriculture industry has taken a hit from Trump’s ongoing trade war with China. The president has tried to limit the economic and political damage from the conflict ahead of the 2020 election. His administration is providing a $16 billion aid package for U.S. farmers affected by the trade conflict.

The president claimed that he had secured large quantities of agricultural purchases when he met with President Xi Jinping at the G-20 summit in June. After Trump announced last week an additional 10% tariffs on the remaining $300 billion in Chinese imports, China halted imports of U.S. agricultural products and allowed its currency, the yuan, to breach the 7 level vs. the U.S. dollar, making its products cheaper.

Wilkinson was one of several beef producers who visited the White House for the signing of the EU/US beef deal. The agreement establishes a duty-free tariff rate quota (TRQ) and reserves about 80% of it for hormone-free U.S. beef.

Over the course of the agreement, annual duty-free U.S. beef exports to the EU are expected to nearly triple to $420 million from $150 million, according to the Office of the U.S. Trade Representative.





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