KORUS Agreement a Relief to Agriculture

first_img SHARE Agriculture was ‘left out’ of the U.S.-Korea Free Trade Agreement renegotiation effort, a relief to the sector. For many in agriculture, there was more to lose than gain in the renegotiation effort. The U.S. is the largest supplier of beef to Korea and the second largest pork supplier. Data from the U.S. Meat Export Federation shows red meat exports to Korea set a record last year of $1.7 billion, up 19 percent from the prior year and up 69 percent from 2012.USMEF spokesperson Joe Schuele told Meat industry publication, Meatingplace, the revised KORUS is “excellent news” for U.S. beef and pork because it ensures the U.S. “will continue to be able to serve the growing South Korean market.” South Korea is also a top-five importer of U.S. corn, buying more than 5.3 million metric tons in the last marketing year, which is more than 200 million bushels. Under the new agreement, South Korea will limit its steel exports to the U.S. and allow more imports of U.S. autos. The U.S. agreed to exempt South Korea from Trump’s steel and aluminum tariffs. SHARE Home Indiana Agriculture News KORUS Agreement a Relief to Agriculture Facebook Twitter Previous articleSecretary Perdue Issues Statement on Plant Breeding InnovationNext articleOpening Day for Hot Dog Season Hoosier Ag Today Facebook Twitter KORUS Agreement a Relief to Agriculture By Hoosier Ag Today – Mar 29, 2018 last_img

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