United States Trade Representative Ron Kirk says the free trade agreement between the United States and South Korea will be implemented on March 15, 2012. National Cattlemen’s Beef Association President J.D. Alexander says – this may very well be the most monumental bilateral trade pact our industry has ever witnessed. He says – when the KORUS FTA is implemented, our competitive advantage will be secured.
Alexander points out that – with increasing demand and tightening supplies, movement of the KORUS FTA should encourage cattlemen and women to think beyond the current prices for live cattle and think long term. Think about where demand is heading and look beyond the borders of the United States. Now is the time to retain heifers and rebuild what has now become the smallest U.S. cowherd more than five decades.
NCBA was a key player in working vigorously to ensure passage of the trade pact with South Korea. Alexander says the KORUS pact – will phase out tariffs on U.S. beef over the next 15 years and will make U.S. beef a more affordable and appealing choice for our valued Korean customers.