China to end 2003 American beef ban
China agrees to allow American beef exports into the country in an effort to avoid a trade war.
A deal agreed upon by China president Xi Jinping and American counterpart Donald Trump will allow U.S. beef into China for the first time since a 2003 outbreak of bovine spongiform encephalopathy (mad cow disease).
While the deal has been agreed upon in principal, twice previously China has said the ban was broken but fell through after regulatory red tape held things up.
The current plan to remove the ban on American beef into China began back in September of 2016—but this time the conditions for US beef to enter China have been met.
The deal is part of China’s concessions—including allowing more American access to financial sector investments—to avoid a trade war between itself and the U.S.
The China, Hong Kong, Vietnam market could be up to a US7-billion market for U.S. beef exporters.
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