Trade War Effect on Beef
It's not just farmers feeling the pinch right now. The president's trade war with China is frozen plans to sell more steaks and other beef products to Chinese consumers.
The NCAA Kent Backus discusses the latest news on the trade front with China and says it's not just about making a deal. It's also about getting the Chinese to abide by the conditions of that deal which is something they haven't always done.
We need more than just words on paper. We need to make sure that China follows through with many of these systemic changes and these agreements to purchase our commodities. We need to make sure that that's more than just empty promises. And I think that is really what President Trump and his team are trying to find here. But that's not going to be an easy process. And we never expected it to be. We've always said we express cautious optimism and back is also says China knows what they're doing in these negotiations but so does our team. And I think that the comforting thing is knowing that our team is not willing to take a half hearted deal or or something with empty promises. But you know we're hopeful that this will resolve soon. But I think we all need to prepare that this negotiation could continue. If China is not willing to make the necessary concessions that are important for U.S. agriculture and for other sectors of our economy."
What's at stake for beef producers? A final deal that finally knocks down non tariff trade barriers that have limited access for years.