China has agreed to lift a barricade against U.S. beef exports, ending a ban on U.S. beef that has been in place since 2003. The agreement was struck between President Donald Trump and China President Xi Jinping over the weekend. Meat industry publication Meatingplace reports the opportunity for U.S. beef exporters could be significant.
The greater China region, which includes China, Hong Kong, and Vietnam, is estimated as a $7 billion beef market. The agreement follows a coalition letter urging President Trump to restore beef trade with China. Led by the National Cattlemen’s Beef Association, The U.S. Meat Export Federation, and the North American Meat Institute, the letter called access to China “essential to the future health of the beef industry.”
Source: NAFB News Service