President Donald Trump announced an agreement late last week to expand U.S. beef exports to the European Union.
Trump signed a deal that promises to “lower trade barriers in Europe and expand market access for American farmers and ranchers.”
With the deal in place the Office of the U.S. Trade Representative Over expects annual duty-free U.S. beef exports to the EU to nearly triple to $420 million from $150 million, according to the Office of the U.S. Trade Representative.
“America’s ranchers welcome the opportunity to supply a bigger share of Europe’s beef market. This agreement advances a three-decade long effort to expand market opportunities for American agriculture in the EU, and every victory counts,” said Zippy Duvall, president of the American Farm Bureau. “While this is certainly good news, it’s important for U.S. negotiators to remain committed to reaching a broad trade agreement with the EU that levels the playing field for all farmers and ranchers.
“We appreciate the Administration making agriculture a top priority in talks with the EU.”
The agreement allows sales of 35,000 tons of beef to the EU. In 2018, the U.S. exported $12.7 billion in agricultural products to the EU while the EU exported $23.7 billion in agricultural products to the U.S.