The president and CEO of the US Meat Export Federation says
US beef exports could see a huge boost if trade normalizes with China.
But, Dan Halstrom says all the right things have to happen
first. “If the duties are reduced back
to the normal, call it the normalized rate of 12 percent, from where they are
today which is at 37 percent,” he says. “And
if all the non-tariff trade issues were eliminated so we’re at an even playing
field with our competition, like Australia.”
He tells Brownfield they have yet to see any details about the
Phase One trade agreement with – but the market opportunity is significant. “Our estimates indicate that our exports
could increase quite a bit – up to 200,000 metric tons,” he says. “For comparison’s sake, we’re looking at the
neighborhood of 7,000 or 8,000 metric tons for this year.”
Halstrom says last year the US sold about $70 million worth
of beef to China, but if a trade agreement is signed and it addresses the
tariff and non-tariff issues, the market potential could jump to more than $1.5
billion.
Continue reading Chinese market is a huge opportunity for US beef at Brownfield Ag News.
