US and EU reach agreement on beef export

Source: China Trade News Network Time: 2019-08-16

Recently, the United States and the European Union reached an agreement on US beef exports. According to the agreement, in the first year, US duty-free beef exports to the EU increased by 46%. Within seven years, this number will increase by another 90%. If the agreement is implemented, the total US duty-free export of beef will increase from 150 million US dollars to 420 million US dollars.

US President Trump said at the signing ceremony of the agreement that this \"breakthrough\" agreement will lower European trade barriers and expand market access for American farmers and ranchers. US Trade Representative Lighthizer said the agreement will ensure the market share of US ranchers in Europe, and the US expects the EU to quickly approve the agreement.

The Associated Press reported that the EU had reached an agreement with the United States in June to allow more hormone-free US beef to enter the European market, but continued to impose bans and restrictions on meat produced using hormones.