The US-Korea Free Trade Agreement is celebrating its 10th anniversary and Kent Bacus with the National Cattlemen’s Beef Association says it has been a big win for the US beef industry. “When you look at the agreement itself, it removed a massive 40% tariff on US beef,” he says. “It also removed a lot of the non-tariff barriers that prevented us from really capitalizing on the demand, the strong demand in the Korean market.”
He tells Brownfield prior to the free trade agreement beef exports to Korea were valued at nearly $500-million annually.
