US finalizes talks to resume beef exports to China after ban (LLY)

US finalizes talks to resume beef exports to China after ban (LLY)

USA farmers will soon be allowed to export beef to China for the first time in more than 13 years after reaching a final agreement in trade talks. Beef would begin being exported to China no later than July 16. Accordingly, the U.S. Department of Agriculture has reached agreement with Chinese officials on final details of a protocol to allow the U.S.to begin the beef exports to China. The meat should not contain the growth promotant ractopamine, found in the drug Optaflexx, made by the Eli Lilly and Co unit Elanco. China halted beef shipments in 2003 amid concerns about mad cow disease. Before the ban, the United States was China's largest supplier of imported beef.

Washington and Beijing finalized details on export protocols ahead of a deadline, set under a broader trade deal last month, for shipments to begin by mid-July.

"NCBA commends the leadership of President Trump and our skilled negotiators who were able to restore US beef access to China, something that has been a top priority for NCBA for 13 years", Uden says.

The Agriculture Department (USDA) outlined details that will allow cattle producers to begin shipping certain US beef products to China after those exports were cut off in 2003 after mad cow disease affected some American herds.

"With that said, China holds exciting potential for the USA beef industry and for buyers in the market who have waited a very long time for the return of high-quality US beef".

Secretary of Agriculture Sonny Perdue said cattle producers "will be regaining access to an enormous market with an ever-expanding middle class". "We will continue to work toward a more fair and balanced economic relationship with China by expanding opportunities for USA workers and businesses".

"Well, today that "great opportunity" becomes a one step closer to reality for cattle producers across the country, hopefully bringing an end to a 13-year drought on beef exports to China", he said. "China is the world's second largest beef market".

"About 10 percent of USA cattle may meet traceability requirements", Derrell Peel, an agricultural economist at Oklahoma State University in Stillwater, said in a telephone interview. "America's ranchers raise the best and highest quality beef in the world, and I applaud the administration for its work to move this agreement across the finish line", Conaway said. Expanding these opportunities would directly benefit American Farmers.

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