U.S.-Korea FTA deal doesn’t widen access for U.S. beef | TSLN.com

U.S.-Korea FTA deal doesn’t widen access for U.S. beef

While U.S. meat industry groups praised a Dec. 3 agreement on changes to the U.S. free trade agreement (FTA) with South Korea, the changes did not widen access to the South Korean market for U.S. beef, but will phase out tariffs for beef, pork and poultry, and is expected to boost trade significantly over time. The overall FTA now must be passed by the U.S. Congress and the South Korean National Assembly

Nearly all the industry groups praised Senate Finance Committee Chairman, Sen. Max Baucus (D-MT), crediting him with reopening South Korea to U.S. beef in 2008. South Korea now accepts beef from U.S. cattle younger than 30 months, while the U.S. has pushed for full access to the South Korean market for all beef products from any U.S. cattle. Baucus himself was one of the few persons over the weekend criticizing the deal, saying he was “deeply disappointed” it “fails to address Korea’s significant barriers to American beef exports…”

Analysts said the industry groups, anxious for the tariff reductions the FTA would provide, praised the deal, while vowing to push to open the Korean market further. One industry economist estimated $325 million in annual beef tariff reductions, once the tariffs are completely phased out.

While U.S. meat industry groups praised a Dec. 3 agreement on changes to the U.S. free trade agreement (FTA) with South Korea, the changes did not widen access to the South Korean market for U.S. beef, but will phase out tariffs for beef, pork and poultry, and is expected to boost trade significantly over time. The overall FTA now must be passed by the U.S. Congress and the South Korean National Assembly

Nearly all the industry groups praised Senate Finance Committee Chairman, Sen. Max Baucus (D-MT), crediting him with reopening South Korea to U.S. beef in 2008. South Korea now accepts beef from U.S. cattle younger than 30 months, while the U.S. has pushed for full access to the South Korean market for all beef products from any U.S. cattle. Baucus himself was one of the few persons over the weekend criticizing the deal, saying he was “deeply disappointed” it “fails to address Korea’s significant barriers to American beef exports…”

Analysts said the industry groups, anxious for the tariff reductions the FTA would provide, praised the deal, while vowing to push to open the Korean market further. One industry economist estimated $325 million in annual beef tariff reductions, once the tariffs are completely phased out.

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