This weekend, President Donald Trump announced the U.S. would delay an increase in tariffs on imports of Chinese goods that was scheduled to go into effect March 1. That was following positive trade talks between the two countries. National Cattlemen’s Beef Association Senior Vice President of Government Affairs Colin Woodall says that’s excellent news for both the beef industry and the overall U.S. economy.
He says getting a deal with China could be very valuable for the U.S. cattle industry because if non tariff barriers can be removed, then the potential market in China would be huge for U.S. beef.
Woodall says the U.S. is losing market share for beef in Japan with them in the revamped Trans Pacific Partnership. He says however one positive is that one of our competitors for that market, Australia is experiencing some weather problems now.
Woodall says Japan is currently a two billion dollar market for U.S. beef.
