Last year, China bought a record amount of American beef, but it is still only a small fraction of its global purchases.
Analysts say that one reason is the U.S.'s high price tag. Only Canada’s beef is more expensive. Even with higher prices, Canada joins Brazil, Argentina, and New Zealand as China’s top suppliers.
In 2020, the U.S. made up less than 2 percent of China’s beef imports. The meat is one of the farm goods the country promised to buy more of under the Phase One deal.
