More US beef imported by Europe to avoid a trade war
Beef quotas for the US Beef could be increased in the near future as the European officials are trying to avoid a trade war with Washington over their exports of aluminium and steel, informs Drovers magazine.
President Donald Trump has already signalled this problem during the visit of his French counterpart Emmanuel Macron to the White House. "They have trade barriers that are unacceptable.Our farmers can’t send their product to the European Union as easily as they should. And we accept their products. So we have to make a change, and they understand that.", said Trump.
A quota system established in 2009 allows the American producers to export 45,000 tons of free-hormone beef without any duties. Nevertheless, US beef exports to EU single market have dropped from 98.8% to 32,6% between the next seven years, according to the data presented by US Meat Export Federation.
The main competitors for US beef producers in this market are Australia and Uruguay. Now, the quota system could be renewed, the American part pushing for a double volume under the new trade agreement.
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