The National Cattlemen’s Beef Association is celebrating two new trade deals that took effect on New Years Day, one with Japan and the other with the European Union.
The organization’s president Jennifer Houston sent the following statement to ring in 2020:
“As the clock struck midnight and revelers around the world popped champagne and toasted the new year, American cattle producers had two big reasons to celebrate. That’s because the New Year brings new opportunities and better access to two of our major export markets: Japan and the European Union.
The new deal with Japan today immediately lowered the tariff on U.S. beef from 38.5 percent to 26.6 percent, and it will eventually drop to 9 percent. Most importantly, it keeps us at the same tariff rate as other international beef producers who export to Japan under the Trans-Pacific Partnership.
Our new deal with the EU today establishes a duty-free quota for high-quality U.S. beef from non-hormone treated cattle. Under the terms of this agreement, the U.S.-specific annual quota will increase from 18,500 metric tons in the first year to 35,000 metric tons in year seven. The Office of the U.S. Trade Representative estimates that this quota will increase annual U.S. beef sales in Europe from $150 million to $420 million.
NCBA is proud to have worked very hard to build support for the increased access to Japan and Europe that we celebrate today, and we’re going to continue working hard to improve access to lucrative international markets like China - and to finalize approval of the U.S.-Mexico-Canada Agreement (USMCA) as soon as possible in 2020. Happy New Year!”