The European Parliament on November 28 approved a plan granting the United States a country-specific share of the European Union’s duty-free high-quality beef quota. It is expected that the agreement, which was signed and announced in August of 2019, will enable US exports to grow from $150 million to approximately $420 million in value per year.
Under the new duty-free tariff rate quota (TRQ) exclusively for the United States, the former quota of 13,000 metric tons will rise from an initial TRW of 18,500 to 35,000 metric tons over the next seven years.
“Approval by the European Parliament keeps this agreement on track for implementation in early 2020, which is outstanding news for the US beef industry and our customers in Europe,” said US Meat Export Federation (USMEF) President and CEO Dan Halstrom. “Lack of capacity in the duty-free quota has been a source of frustration on both sides of the Atlantic, and a US-specific share of the quota will help ensure that US beef can enter the European market 52 weeks per year, without delay or interruption.”
The European Union is one of the highest value destinations in the world for US beef, and consistent access will not only benefit American producers and exporters, but also European importers and their clientele, added Halstrom.
