Saturday, August 3, 2019

Oh, look! He made a deal!

President Donald Trump announced an agreement Friday to boost beef exports to the European Union.

Surrounded by trade officials and beef industry representatives at the White House, Trump signed a deal to “lower trade barriers in Europe and expand market access for American farmers and ranchers.” Over the course of the agreement, annual duty-free U.S. beef exports to the EU are expected to nearly triple to $420 million from $150 million, according to the Office of the U.S. Trade Representative.

“This is a tremendous victory for American farmers, ranchers and of course, European consumers,” the president said at the White House as he unveiled the deal.

  CNBC
"Thanks to your favorite, President, me!" he may or may not have said.

But wait.
EU sources and diplomats in June said a deal was reached to allow the US a guaranteed share of a 45,000-tonne European quota for hormone-free beef.

But European officials last month said broader trade talks had produced only mixed results.

[...]

The deal was not expected to change the overall beef import volume and would also still need to be approved by the European Parliament.

[...]

The Trump administration has been pursuing a host of new trade deals with Europe, China and others. These efforts are part of the Republican president's "America First" agenda as he seeks a second term in office. But difficulties in securing final pacts acceptable to all parties have roiled global markets. European stocks on Friday were battered by Trump's latest salvo in his ongoing trade dispute with China, after the US president vowed to impose further tariffs on Chinese imports.

  alJazeera
"The deal was not expected to change the overall beef import volume."

A "tremendous victory for American farmers [and]  ranchers."

...but hey, do what you want...you will anyway.

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