The latest monthly trade data has been tabulated – for August – and U.S. beef trade continued its impressive performance with monthly exports up 9 percent and year-to-date export totals up 14.2% year over year.
Beef producing countries like Australia, Canada, New Zealand and Mexico are gaining greater access into Japan thanks to lowered tariffs, giving those exporters a significant advantage over U.S. beef producers.
Throughout U.S. farm country tariffs on steel and aluminum imports are boosting costs for equipment and infrastructure and causing some farmers and agricultural firms to scrap purchases and expansion plans.
U.S. President Trump said last week he would reconsider joining the landmark Trans-Pacific Partnership (TPP) trade agreement, if it were a “substantially better” deal than the one offered to President Obama.
Ireland will become the first European Union country to gain access to China’s fast-growing beef market after its agriculture minister said on Monday that Beijing had approved imports from three Irish processors.
Japan is set to restore tariffs on frozen beef from the United States and other countries to usual levels from April 1, ending a hike put in place eight months earlier to protect domestic producers as an emergency.
Chinese state media on Monday praised a significant dialing back of trade tension with the United States, saying China had stood its ground and the two countries had huge potential for win-win business cooperation.