Beef Buzz News
US-China Trade Tensions Seem to Ease Some Amid Stalled Threats of Tariff Retaliation, Trade War
Tue, 22 May 2018 10:29:22 CDT
Whether you are talking about agriculture or not, it is a wild time right now if you are trying to keep up with all that is going on in US trade relations. Such is the case for Kent Bacus, director of international trade and market access for the National Cattlemen's Beef Association. Farm Director Ron Hays of the Radio Oklahoma Ag Network caught up with Bacus recently to get the latest developments on the Chinese front when it comes to this tumultuous series of events that has been unfolding between the US and China amid threats from each side of tariffs and fear of a trade war.
"What we're hearing is that there's been some progress in some of the discussions. I think it's still very speculative at this point to see what the final result will be," Bacus reported. "I think the promising thing is that we're actually having these conversations government to government - because keep in mind, China isn't always the easiest country to work with."
Bacus says Chinese officials have a litany of very strict rules, regulations and bureaucracy to go through whenever decisions or negotiations are being discussed with other nations. The fact that both US and Chinese emissaries are travelling back and forth to meet face to face is a good sign that perhaps an amicable solution can be hammered. But he warns, too, not to make the mistake that tariffs are off the table. Should negotiations fall apart, he says we could be back to square one and beef potentially in the line of fire. Despite threats of that happening, so far no movement has been made on enacting a retaliatory increase in Chinese tariffs on imported US beef from 12 to 37 percent. Although, China is a comparatively small customer for the US right now when it comes to beef, Bacus reminds us that China is quickly becoming one of the world's largest importers of beef and is just starting out its relationship with the US beef industry after more than a decade of having severed ties. Bacus says there is a lot of potential for China to become a very important market for the US in the future.
"It takes time to develop the supply chains, identify the customers and get product moving - and there's more demand out there," he insisted. "We obviously want to be part of that success. We've committed to be a part of it and we're going to see our sales continue to grow. So, China either way is going to be a good bet for us. It's going to provide a good opportunity to expand into the Asian market."
Listen to Bacus and Hays discuss the current status of US-China trade negotiations and what impact it is having on the beef industry, on today's Beef Buzz. You can also listen to their complete conversation by clicking over to our Perspectives podcast, for the full version.
The Beef Buzz is a regular feature heard on radio stations around the region on the Radio Oklahoma Network and is a regular audio feature found on this website as well. Click on the LISTEN BAR below for today's show and check out our archives for older Beef Buzz shows covering the gamut of the beef cattle industry today.
Listen to Bacus and Hays discuss the current status of US-China trade negotiations, on today's show.
right-click to download mp3
WebReadyTM Powered by WireReady® NSI
Beef News
January Cattle on Feed Report Three Percent Under Year Ago- Derrell Peel Says Tighter Supplies Will Be Around for Awhile Mon, 23 Jan 2023 05:15:04 CST
Derrell Peel Talks Latest Cattle on Feed Report- Showing Fewer Cattle on Feed, Lighter Placements and Stronger Marketings. Mon, 26 Dec 2022 08:19:00 CST
Kara Lee with Certified Angus Beef Tells Cattlemen 'Cut the Bull' Fri, 23 Dec 2022 14:30:39 CST
Beef Checkoff Utilizes Digital Marketing Techniques to Interact with Consumers Thu, 22 Dec 2022 16:02:51 CST
Beef Checkoff Research, Education, and Promotion Efforts Point Consumers to Beef Wed, 21 Dec 2022 16:15:46 CST
OSU Economist Derrell Peel Expects US Beef Export Strength to Continue Into the New Year Tue, 20 Dec 2022 08:00:35 CST
NPPC's Michael Formica Feeling Positive About Supreme Courts Upcoming Proposition 12 Decision Mon, 05 Dec 2022 10:08:27 CST
NCBA Fights to Improve Marketing Options for Cattle Producers Fri, 02 Dec 2022 09:58:28 CST
Chinese Consumers Continue to Grow Appetite for U.S. Beef Thu, 01 Dec 2022 09:23:49 CST
Merck Creates Value for Producers and Consumers with Technology and Biopharmaceuticals Wed, 30 Nov 2022 09:55:28 CST
NCBA’s Todd Wilkinson Ready to Fight Back Against Regulatory Overreach in the Cattle Industry Tue, 29 Nov 2022 10:13:33 CST
NCBA and PLC Call ESA Listing Plan of Lesser Prairie Chicken Punitive for Cattle Producers in Southern Plains Wed, 23 Nov 2022 14:51:02 CST
November Cattle on Feed Report Confirms October Pattern of Lower Placements and Tighter Cattle Numbers in Feedlots Tue, 22 Nov 2022 05:07:02 CST
Turning the Corner- OSU's Derrell Peel Sees Tighter Cattle Inventories into 2023 in Latest Cattle on Feed Report Mon, 21 Nov 2022 04:36:33 CST
Turning the Corner- OSU's Derrell Peel Sees Tighter Cattle Inventories into 2023 in Latest Cattle on Feed Report Mon, 21 Nov 2022 04:27:40 CST
Midterm Elections to Set Stage for What Can Be Expected in 2023 Farm Bill Mon, 07 Nov 2022 12:13:57 CST
USMEF's Dan Halstrom Remains Cautiously Optimistic about Strong Beef Demand Going Forward Thu, 03 Nov 2022 09:35:46 CDT
Economic Factors Create Hesitancy in Beef Plant Expansion Plans Wed, 02 Nov 2022 11:03:34 CDT
NCBA's Mike Simone Says Consumer Interest in Fake Meat is on the Decline Tue, 01 Nov 2022 11:41:02 CDT
Beef Remains Valued Product for Consumers as it Allows Them to Stretch their Dollar Mon, 31 Oct 2022 09:15:56 CDT
Hugh Aljoe Provides Methods to Begin and Maintain Good Land Stewardship Fri, 28 Oct 2022 09:30:13 CDT
Implement Soil Health Practices Now to Increase Forage Production when Rains Come Thu, 27 Oct 2022 15:14:07 CDT
Third Beef. It's What's For Dinner. 300 Promotes the Beef Industry on a National Level Wed, 26 Oct 2022 15:32:23 CDT
Latest Cattle on Feed Report from USDA Implies Fewer Pounds of Beef Available in 2023 Tue, 25 Oct 2022 10:17:53 CDT
OSU's Derrell Peel- Lower Placements and Smaller On Feed Number Highlight October Cattle on Feed Report Sun, 23 Oct 2022 12:45:37 CDT
Beef Checkoff Research Continues to Share Beef Sustainability Story with Consumers Fri, 21 Oct 2022 09:23:36 CDT
Beef Checkoff Research Works to Ensure Consumers Beef is a Product They Can Trust Thu, 20 Oct 2022 13:44:44 CDT
Odds for Significant Wheat Pasture Going Lower Daily in the Southern Plains Wed, 19 Oct 2022 14:35:46 CDT
NCBA Weighs in on California's Proposition 12 Tue, 18 Oct 2022 11:32:24 CDT
2022 Stockyards Steak Out Takes Oklahoma Beef to the Next Level Mon, 17 Oct 2022 11:09:07 CDT
Holding Onto Your Cow Herd a Little Longer is Projected to Pay Off, says Randy Blach Fri, 14 Oct 2022 08:14:05 CDT
Randy Blach Confident in Better Cattle Market Conditions Down the Road Thu, 13 Oct 2022 09:43:02 CDT
No Imports or Exports Would Result in a Smaller U.S. Beef Cattle Industry Wed, 12 Oct 2022 16:11:15 CDT
Derrell Peel Explains Why International Trade of Beef is Valuable Tue, 11 Oct 2022 08:19:29 CDT
Animal Agriculture Hopeful for a Win as U.S. Supreme Court Looks at California's Proposition 12 Mon, 10 Oct 2022 09:26:17 CDT
