The Office of the U.S. Trade Representative (USTR) announced agreements on reciprocal trade with Malaysia and Cambodia and frameworks for agreements on reciprocal trade with Thailand and Vietnam. U.S. Meat Export Federation (USMEF) President and CEO Dan Halstrom said that while Southeast Asia holds excellent growth potential for U.S. red meat, exporters face significant tariff and non-tariff barriers in the region.
President Trump also met last Thursday with Chinese President Xi Jinping. While the White House has not yet officially released all of the details from the meeting yet, China reportedly agreed to resume imports of U.S. soybeans and made other commitments aimed at easing U.S.-China trade tensions. While this is encouraging, Halstrom said U.S. red meat exporters still need relief from China’s retaliatory tariffs.
In another encouraging development, the U.S. paused for one year the additional fees recently imposed on Chinese-built-or-controlled vessels utilizing U.S. ports. China also agreed to pause the port fees imposed on U.S. ships in response. These fees increase costs for U.S. exporters and can negatively impact ocean carrier services.
For more information, visit usmef.org.
