U.S., UK Reach Trade Deal that Includes Agriculture

The U.S. and United Kingdom reached the framework of a trade agreement that opens new market access for American agricultural products.

“Texas Farm Bureau (TFB) is very encouraged that President Trump and his administration have announced a trade deal between the United States and the United Kingdom,” TFB President Russell Boening said in a statement.

The UK committed to expanding access for $5 billion worth of overall American exports.

A fact sheet from the White House outlined the agricultural products that are part of the agreement. They include ethanol, beef, cereals, fruits, vegetables, animal feed, tobacco, soft drinks, shellfish, textiles, chemicals, machinery and more.

“The deal includes billions of dollars of increased market access for American exports, especially in agriculture, dramatically increasing access for American beef, ethanol and virtually all of the products produced by our great farmers,” President Donald Trump said.

According to the fact sheet, the agreement allows for more than $700 million in ethanal exports and an additional $250 million in other agricultural products such as beef. It also includes a commitment by both countries to work together to further expand agricultural market access.

Currently, the UK imports only about $32 million in U.S. beef, but that number is expected to increase significantly under the new deal, according to U.S. Secretary of Agriculture Brooke Rollins.

“This is going to exponentially increase our beef exports. And to be very clear, American beef is the safest, the best quality and the crown jewel of American agriculture for the world,” she said.

The UK currently accounts for about 1.5% of all U.S. agricultural trade. Last year, the U.S. exported nearly $2.2 billion in agricultural products to the UK. The single-highest selling product was ethanol.

The U.S. imported $2.7 billion in agricultural products from the UK last year. The majority of those imports are distilled spirits such as scotch and gin.

At the White House event where the trade deal was announced, Trump administration officials said there will be continued talks with UK officials and noted that this deal could lead to future trade opportunities with the European Union.

“TFB looks forward to its continued work with the administration and members of Congress to provide more trade opportunities for America’s farmers and ranchers,” Boening said.