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Updated KORUS Protects Current Market Share

Dan Beef, Exports/Imports, Industry News Release, Pork, Trade

The new KORUS agreement offers a sigh of relief for U.S. beef and pork. The U.S. Meat Export Federation says the market access terms secured in the original KORUS not only helped increase U.S. red meat’s market share in South Korea, but also bolstered consumption by making U.S. beef and pork products more affordable and accessible to Korean consumers. Those …

ncba

NCBA: KORUS “Tore Down” Trade Barriers, Helped Increase Beef Exports

Dan Cattle, Exports/Imports, Industry News Release, Trade

National Cattlemen’s Beef Association (NCBA) President Kevin Kester released the following statement in response to the signing of the modernized Korea-United States Trade Agreement (KORUS): “KORUS is a prime example of how U.S. producers benefit from trade agreements that reduce tariffs and implement science-based standards. Less than a decade ago, U.S. beef exports to South Korea were severely limited by …

fas

American Farm Bureau Encouraged by Korea Trade Agreement

Dan Industry News Release, Trade

The following statement can be attributed to American Farm Bureau Federation President Zippy Duvall: “President Trump’s approval of the modernized U.S. – Korea Free Trade Agreement preserves a two-way trade relationship that greatly benefits America’s farmers and ranchers. South Korea bought $6.9 billion worth of U.S. agricultural goods last year, making it our sixth-largest export market. “Whether it’s corn, soybeans …

agricultural

Perdue Comments on Signing of New KORUS Trade Agreement

Dan Industry News Release, Trade

U.S. Secretary of Agriculture Sonny Perdue today issued the following statement regarding the signing of the new United States-Republic of Korea Free Trade Agreement (KORUS): “We are entering into a new KORUS agreement that is a better deal for the entire United States economy, including the agricultural sector. This represents an important improvement in trade relations between our two nations, …

japan

Rabobank: Challenges Ahead for U.S. Global Pork Trade

Dan Industry News Release, Pork, Trade

A Rabobank analysis says the proposed Chinese tariff on U.S pork imports could cost American producers $6 to $8 per head. The Rabobank Pork Quarterly Q2 report says the China-U.S. tension exemplifies what could be a challenging year ahead for the pork industry in 2018. African swine fever in Europe could be another challenge in the global pork trade. The …

agricultural

KORUS Agreement a Relief to Agriculture

Dan Exports/Imports, Industry News Release, Trade

Agriculture was ‘left out’ of the U.S.-Korea (KORUS) Free Trade Agreement renegotiation effort, a relief to the sector. For many in agriculture, there was more to lose than gain in the renegotiation effort. The U.S. is the largest supplier of beef to Korea and the second largest pork supplier. Data from the U.S. Meat Export Federation shows red meat exports …

mckinney

McKinney Updates U.S. Grains Council on Trade Negotiations

Dan Industry News Release, Trade

USDA Under Secretary for Trade and Foreign Affairs, Ted McKinney, addressed the delegates and members of the U.S. Grains Council early this week. He gave them updates on ongoing trade negotiations that will affect global grains market access. McKinney also announced a $1.3 million-dollar grant for Council feed industry training programs in North Africa and the Middle East. The U.S. …

renegotiate

Korea Submitting Plan to Renegotiate KORUS

Dan Industry News Release, Trade

South Korea trade officials announced Monday the government will submit a plan to renegotiate the U.S.-Korea Free Trade Agreement (KORUS) to the nation’s National Assembly government body. South Korea’s Trade Minister met with officials from 20 ministries and government regarding KORUS, and the plans to renegotiate the trade agreement. A senior trade official told the Korea Herald newspaper: “We hope …

agricultural

USGC, NCGA Reiterate Support for KORUS, NAFTA

Dan Industry News Release, Trade

Leadership from the U.S. Grains Council (USGC) and National Corn Growers Association (NCGA) last week spent time in South Korea and Mexico to talk trade. The two organizations met with customers and government officials during what they call a period of policy uncertainty in the U.S. corn industry’s top markets. Mexico is the top purchaser of U.S. corn, while South …