Monday, June 17, 2019

U.S. cuts out beef competitors for Europe

The United States said it has a deal with the European Union to increase beef exports, but it comes at the expense of Australia, Uruguay and Argentina.

Canada may also lose some market access, but that could not be immediately clarified.

The European Union has a quota on how much hormone-free beef can be imported and the U.S. originally got the lion’s share.

But the World Trade Organization said that wasn’t fair and so the U.E. parcelled out some of the quota to others, such as Australia, Uruguay and Argentina.

Now this deal takes much of that back for the United States.

While the deal has been announced, apparently it still has to go through some regulatory hoops before it can take effect.