Beef Buzz News
More From NCBA's Kent Bacus on Why Beef Exports to China, Japan and Korea Work
Thu, 26 Aug 2021 11:36:48 CDT
Yesterday, Kent Bacus, senior director of international trade and market access for the National Cattlemen’s Beef Association, told Ron Hays that U.S. beef exports are booming in eastern Asia. He said thanks to former President Trump’s Phase One trade deal with China and individual trade deals with Japan and South Korea, the beef industry has skyrocketed since. He goes as far as calling the situation overseas “… a bidding war between Japan, Korea and China for U.S. beef.”
Listen to Ron's conversation with Kent here
Today, Bacus turns his attention to U.S. trade with Japan, which faced a significant disadvantage versus competitors like Australia and Canada in the Japanese market until the Trump Administration concluded direct negotiations with Japan, putting our beef on a level playing field with beef flowing into this rich Asian economic superpower.
“Because of that, we have just been selling record amounts of beef into Japan,” Bacus said. “Unfortunately, we sold too much into Japan last year and it triggered a temporary safeguard.”
The US has faced these challenges on the Safeguard trigger before and is actively renegotiating with Japan to prevent those triggers from happening again, according to Bacus. Overall, he said the U.S. beef industry is in a great position with the Japanese tariff set to come down, the South Korean tariff set to be eliminated in the following years and China being wide open for trade.
“If you look at the competition between those three countries, you have a lot of very positive news for the U.S. beef industry,” Bacus said.
That success is a far cry from the protests on importation of U.S. beef witnessed in South Korea, back in 2008, Bacus said.
“We’ve focused a lot of our resources on developing trust with Korean consumers,” Bacus said. “The U.S. Meet Export Federation has done a fantastic job helping spear-head those efforts.”
Bacus also gave credit to states like Oklahoma and Texas, where cattle often outnumber people. Those states receive more checkoff dollars, which they use to promote beef in other countries.
Bacus said, those efforts have been huge when it comes to creating a personal connection to the product in South Korea. Those efforts have paid off. Today in South Korea, the U.S. is the number one import source, according to Bacus.
Click on the LISTEN BAR below to hear more from Ron as he speaks with Kent Bacus on why the NCBA does not want trade negotiations opened back up with China.
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.
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