U.S. Signs Agreement Allowing More Beef Into EU
Date: Monday, August 5, 2019
Source: The Wall Street Journal
Of the 45,000 tons of non-hormone treated beef allowed into the EU every year, the U.S. will now supply 35,000 tons
WASHINGTON—President Trump cheered an agreement to open the European Union to more U.S. beef exports during a White House event Friday.
U.S. Trade Representative Robert Lighthizer signed the deal one day after the latest round of trade negotiations between the U.S. and China failed to reach an agreement. Mr. Trump responded with a threat to impose a 10% tariff next month on $300 billion in Chinese goods. Many of Mr. Trump’s top advisers opposed the move.
The U.S. and the EU reached the agreement, which allows more U.S. beef into the bloc, in June. The deal was subsequently approved by member states in July. Of the 45,000 tons of non-hormone treated beef allowed into the EU every year, the U.S. will now supply 35,000 tons. The 45,000-ton quota was set in 2009.
“The agreement we sign today will lower trade barriers in Europe and expand access for American farmers and ranchers,” Mr. Trump said, adding that duty-free U.S. beef exports to the EU will increase by 46%
Mr. Trump was joined at the event by Mr. Lighthizer, EU Ambassador Stavros Lambrinidis and Jani Raappana of Finland, who represented the presidency of the EU.
The Office of the United States Trade Representative said annual duty-free exports from the U.S. are expected to more than double from $150 million to $420 million when the agreement is fully implemented.