U.S., China Trade Agreement Moves Forward

January 16, 2020

The U.S. signed a phase-one trade agreement with China yesterday. According to NCBA, it will lay the groundwork for U.S. beef to be highly competitive in the world’s most populous market. The agreement eliminates several barriers that have greatly limited market access for U.S. beef, including China’s ban on the use of hormonal implants, the 30-month BSE restriction and extensive traceability requirements. 

“The removal of these massive trade barriers gives Chinese consumers access to the U.S. beef they desire, and it gives America’s cattlemen and cattlewomen the opportunity to provide U.S. beef to a growing consumer-base that represents one-fifth of the global population and a middle-class that is greater than the entire U.S. population," said NCBA President Jennifer Houston.    

The U.S. Meat Export Federation reports that China’s red meat imports exceeded $14 billion last year, a 65% increase from 2018. This new deal will help the U.S. capture a greater share of this growing market. The phase one trade agreement is scheduled to go into effect in mid-February.