Final details of China beef access agreement released
Meat Institute praises administration efforts to finalize strong deal for U.S. beef industry
The North American Meat Institute praised the administration on June 12, following the announcement of the details of the agreement with the Chinese government to resume imports of U.S. beef. The deal outlines the beef products that may be exported to the Chinese market and represents the final step needed before U.S. beef makes its way across the Pacific for Chinese consumers.
The terms released by USDA and USTR are very favorable and allow for a variety of beef products to be exported to China, an economic boost for the beef industry. The deal allows for qualified beef products produced after May 24, 2017, to be exported once a plant is approved by USDA as eligible to export to China.
“The Administration showed great leadership in reaching this deal with the Chinese government quickly and in negotiating such positive terms for access,” said Meat Institute President and CEO Barry Carpenter. “The demand in China for high-quality U.S. beef is high, so opening the market offers great potential for our businesses and the U.S. economy as a whole.”
The final deal comes less than one month after an initial agreement was reached following President Donald Trump’s summit with Chinese President Xi Jinping. The Chinese market has been closed to U.S. beef for nearly 14 years. Restoring access has been a top priority for the beef industry during this period.
China imports an estimated $2.6 billion worth of beef from around the world. Asian countries already make up some of the largest markets for U.S. beef with Japan, Korea, Hong Kong and Taiwan making up four of the top six export markets, accounting for $3.6 billion in value in 2016.