Member access

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

U.S. Senate Committee on Finance : Baucus Secures Victory for America’s Ranchers as Japan Accepts More U.S. Beef Exports

01/28/2013 | 01:04pm US/Eastern
Recommend:
0

For Immediate Release
January 28, 2013

Contact:

Sean Neary/Meaghan Smith
(202) 224-4515

Baucus Secures Victory for America's Ranchers as Japan Accepts More U.S. Beef Exports

Senator Pressed Japanese Leaders on Unscientific Beef Restrictions during Trade Mission Last Year

Washington, DC - Senate Finance Committee Chairman Max Baucus (D-Mont.) today hailed Japan's decision to import more U.S. beef by opening its market to cattle up to 30 months of age.  For several years, Japan has only accepted cattle less than 21 months of age.  The news follows a trade mission Senator Baucus took to Tokyo last summer, where he pressed Japan's prime minister and economic and trade leaders to bring Japan's policies in line with sound science and accept more U.S. beef.

"This is a win for ranchers in Montana and across the country and will mean more exports and more jobs here in the U.S.," Senator Baucus said.  "Japan is a huge market for our beef exports, and I'm thrilled it's finally taken a big step toward accepting sound science and welcoming more of our exports.  The simple fact is American beef is among the safest in the world, and the next step is for Japan to drop age-based limits altogether."

Japan was once the largest market for U.S. beef, with nearly $1.5 billion worth of exports sold there in 2000, according to the Department of Agriculture (USDA).  But it banned beef from U.S. cattle in 2003 when one case of bovine spongiform encephalopathy (BSE) was discovered in the U.S.  Since then, the USDA and the World Organization for Animal Health (OIE) have declared that U.S. beef - including cattle of all ages - is completely safe for consumption. 

Japan re-opened its market to American beef in 2005, but with the 21-month age limit in place.  Since collapsing after the ban, exports have rebounded to nearly $1 billion in 2012.  Japan is now the third-largest export market for U.S. beef after Mexico and Canada, according to USDA estimates.  Japan's decision today to accept more cattle will further increase opportunities for U.S. ranchers to boost exports to Japan.

Senator Baucus has a long track record of fighting on behalf of American beef exporters.  He immediately pressed Russia to reconsider limiting U.S. beef exports when it announced the plan last month.  And thanks to the bill he championed normalizing trade relations with Russia, the U.S. now has new tools to resolve that type of trade dispute.  While meeting with European leaders on economic issues last fall, Senator Baucus urged them to bring their policies in line with sound science and accept more U.S. agricultural products, including beef.  He worked with the administration to secure a commitment from South Korea to accept more U.S. beef as part of the U.S.-Korea free trade agreement, which went into effect last March.  He has consistently called on China to end its restrictions on beef exports, including during a trade mission when he met with then-Vice President Xi Jinping.  And the United Arab Emirates, Taiwan and Chile all recently dropped limits on U.S. beef exports after Senator Baucus pushed them to do so.

The Finance Committee has jurisdiction over international trade matters.

###

distributed by
Recommend :
0
React to this article
Latest news
Date Title
<1m ago EDISON : Reports Second Quarter 2014 Results
<1m ago SELECTIVE INSURANCE : Appoints New Member to Board of Directors
<1m ago ELDORADO GOLD : 2014 Second Quarter Financial and Operating Results
<1m ago Fitch Revises Outlook to Positive on Methodist Hospital's (IN) Series 2014 Revs; Revs Rated 'BBB'
2m ago ECOLAB : Kick-about to help Marlie-Grace
2m ago Sorrento Announces the Unexpected Death of its Chief Business Officer
2m ago VOLKSWAGEN : VW festival at Elsham Hall
3m ago MAPS : Petition to Reinstate Medical Marijuana Researcher Receives Over 100,000 Signatures
3m ago HOUSTON WIRE & CABLE : Announces Second Quarter 2014 Earnings Conference Call
4m ago NASPERS : Martin wins ; IN BRIEF ...
Latest news
Advertisement
Hot News 
ARDEN PARTNERS : Posts Loss As Fee Income Hit By Two Pulled Deals
AFREN : Oil Explorer Afren Suspends Top Executives
EHEALTH : PPACA calendar slams broker's medical sales
HYDER CONSULTING : Agrees To Be Acquired by Arcadis At 39% Premium
NETGEM : Results of the 1st half of 2014
Most Read News
9h ago WORLD WRESTLING ENTERTAINMENT : WWE :® Reports 2014 Second Quarter Results and Improved 2015 Business Outlook
1d ago JPMORGAN CHASE : Announces $30 Million for Small Business Network Growth
1d ago MOLECULAR MEDICINE : Researchers from Huazhong University of Science and Technology Provide Details of New Studies and Findings in the Area of Molecular Medicine (Growth...
1d ago BANCO MACRO : Argentina fails to reach debt agreement, default imminent
1d ago AMC NETWORKS : wants stake in BBC America - source
Most recommended articles
16h agoDJMARKET SNAPSHOT : U.S. Stocks: Futures Drop On Jobless Claims
9m ago FAIRFAX FINANCIAL : returns to second-quarter profit on investment gains
9m ago Western Union profit falls as costs rise
12m ago Burger King cuts ties with supplier in China food safety scare
15m agoDJJuly Economic Sentiment Index Falls to 53.7
Dynamic quotes  
ON
| OFF