Trump Announces EU Agreement to Accept More Hormone-Free Beef From US
President Donald Trump held a press conference Aug. 2 at the White House with European officials and U.S. Trade Representative Robert Lighthizer to announce an increase in tariff-free access to U.S. hormone-free beef in the European Union. The changes to the EU's tariff rate quotas will go into effect after the European Parliament approves hem, which is expected in the fall. It was originally announced by the EU in June (see 1906140026).
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The Office of the U.S. Trade Representative said that the initial TRQ for the U.S. beef will be 18,500 metric tons, which is about $220 million worth of beef. Over seven years, the TRQ will grow to 35,000. Currently, the U.S. exports about 13,000 metric tons, and must share a TRQ with other countries' beef producers.
One of the European representatives who spoke at the press conference said this will resolve a long-standing dispute at the World Trade Organization.