An Australian trader said the possibility of lower tariffs on imported beef in the US appears to have lost momentum. According to the source, a recent meeting of the Meat Import Council of America (MICA) was dominated by the view that there is strong political and industry opposition to any trade liberalization, particularly from US cattle producer organizations.
“For the moment, nobody sees any progress on that front,” he said.
On May 11, the Donald Trump administration temporarily suspended tariff-rate quotas (TRQs) for beef imports from all countries in an effort to reduce record-high beef prices in the United States. However, the measure was later put on hold and has not been implemented.
