Free Trade Agreement with Dominican Republic Benefits US
“It is important to note that US pork enters at zero tariff and Brazil will pay the 25% which is the Dominicans base rates or non-FTA rate on pork imports. The DAR has a 44 0% tariff on non-FTA beef coming into the country. So from my sort of outside read that looks like a pretty steep barrier to Brazilian beef.”
Not to mention it is an important market for us not to mention that the Dominican Republic is an important market for us exports.
“It's one of those markets where you have dominant so far this year. The US pork exports to the Dominican Republic are about $145 million. It's our sixth largest market and our exports are up 26% In the first half compared to a record pace of last year. And our pork also accounts for the majority of Dominican pork consumption for USB. It's our ninth largest market in the first half of this year and we look at a value basis.”
Which Borer says is pretty impressive and what has been a challenging year coming off of the highs of last year.