UK Trade Deal Creates $5 Billion Opportunity for Ag Exports

Meat locker The United States and the United Kingdom reached an agreement on a trade deal that provides increased access for American Imports. The White House said the agreement creates a $5 billion opportunity for U.S. farmers and producers.

The agreement includes more than $700 in ethanol exports and $250 million in other agricultural products. This includes beef. Secretary of Agriculture Brooke Rollins said this agreement will exponentially increase beef exports. The U.S. Meat Export Federation (USMEF) reported that the U.S. exported 1,970 mt of beef to the UK last year. This was valued at about $32 million.

USMEF Senior Vice President of Communications Joe Schuele said the U.S. has not had duty-free access to the UK since Brexit. All U.S. beef exports were subject to a 12% tariff plus an additional 2.5 British pounds per kilogram duty.

USMEF President and CEO Dan Halstrom said he is encouraged by the creation of a zero-duty country-specific spot for U.S. beef in the UK. There is still work to be done around non-tariff barriers.

National Cattlemen’s Beef Association President Buck Wehrbein said the association spent years advocating for expanded trade with the UK. This agreement is a step forward.

During the announcement, officials said that U.S. ethanol tariffs will be reduced to zero. National Corn Growers Association President Kenneth Hartman Jr. applauded the news. The country is currently the second-largest destination for U.S. ethanol exports.