Articles Tagged with ''beef exports''

Agriculture markets are analyzing the outcome of President Donald Trump’s meeting with Chinese leader Xi Jinping, while U.S. lawmakers are taking in the latest sign of a tumultuous political season ahead. 

China has imposed new 55% “safeguard” tariffs on beef imported over specific quotas from countries including the United States, Brazil and Australia, China's Ministry of Commerce announced Wednesday.

U.S. exports of beef and pork were down in April from a year earlier as shipments to China slowed due in part to China’s retaliatory tariffs,  the U.S. Meat Export Federation said. The expiration of Chinese registrations of U.S. processing plants and cold storage facilities also contributed to the decline.

Cattle producers should be in line for a profitable year in 2023, but consumers will see higher prices at the grocery store as a result of an expected drop in production.