The Brexit vote in which the United Kingdom will leave the European Union, is likely to have an impact on global meat trade. U.S. Meat Export Federation Economist Erin Borror says the most immediate concern is the effect on currencies such as the relationship of the EURO to the U.S. dollar.
She says the U.S. dollar and the Japanese yen have also strengthened, which will also have an impact on one of the U.S.’s largest meat export customers.
She notes that most of the UK’s beef and pork imports currently originate within the EU, and it remains to be seen how the UK’s departure will impact these imports. Trade between the UK and EU, including decisions on tariffs, sanitary and phytosanitary (SPS) measures and other issues, will be the subject of extensive negotiations that are expected to take about two years.
