Deal Reached for Chinese Market Access for Beef By Mid-SummerFriday, May 12, 2017
Meat Institute Grateful for Administration’s Success In Reaching Deal With Chinese
Washington, DC—The North American Meat Institute commended the administration today following the announcement of a deal with the Chinese government to resume imports of U.S. beef effective July 16, 2017. The deal is the final hurdle to reopening the Chinese market for U.S. beef after a 14-year absence and sets clear action steps to open the market. In response to a request by the Meat Institute and other industry partners , President Donald Trump raised restoration of U.S. beef access to China in his summit with Chinese President Xi Jinping last month and has made beef access a reality.
“The meat industry has long sought access to the Chinese market for U.S. beef, making today's announcement a significant and very welcome milestone,” said Meat Institute Chairman and Bob Evans Farms President and CEO Mike Townsley. “High quality beef is in high demand in China, so the deal has great potential for both our businesses and the U.S. economy as a whole.”
“The administration has shown great leadership in working with the Chinese government and industry to help finalize market access for U.S. beef,” Institute President and CEO Barry Carpenter said. “The beef deal is a significant, concrete accomplishment resulting from the 100-day plan established by President Trump and President Xi at their summit. We are thankful for the hard work on the issue by both leaders."
The Chinese market is estimated to be worth $2.6 billion for the U.S. beef industry. Asian countries already make up some of the largest markets for U.S. beef with Japan, Korea, Hong Kong and Taiwan making up four of the top six export markets, accounting for $3.6 billion in value in 2016.
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