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As the U.S. government has pointed out the ban on importing U.S. beef over 30 months old as a representative example of excessive non-tariff barriers during bilateral tariff negotiations, concerns are growing that the related issue will be reignited. The Ministry of Trade, Industry and Energy held the second technical consultation with the U.S. Trade Representative (USTR) regarding U.S. tariff measures in Washington D.C. from the 20th to 22nd of last month. During this consultation, the U.S. government singled out the import ban on U.S. beef over 30 months old as a prime example of excessive non-tariff barriers and raised issues related to genetically modified organism (GMO) agricultural product import regulations and meat jerky restrictions, regardless of cattle age.

Uncertainty and unpredictability have impacted global markets since the new US administration took office in January. The global cattle market is no exception. Since beef is one of the most important agricultural products in the United States, any changes in US trade agreements could impact the beef market both domestically and internationally. According to RaboResearch’s

In a trend of cattle scarcity due to the effects of drought, coupled with the collateral damage caused by the screwworm in Mexico, the Food Price Outlook report from the United States Department of Agriculture (USDA) anticipates that beef prices will continue to rise.