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U.S. beef exports remain resilient even with challenges in Europe

by Ben Nuelle LISTEN: Money Matters 6-7-16

Europe is facing some of the toughest times since World War II. From thousands of refugees arriving to the change in political winds. How does all of this affect trade with the U.S.? The European Union is currently negotiating with the U.S. with what’s known as the Transatlantic Trade and Investment Partnership or T-TIP.

John Brook is regional director of Europe, Russia and the Middle East for the U.S. Meat Export Federation.

“In the current circumstances in the political environment in the European Union, even if the negotiators, which is the European Commission and the U.S. Department of Trade were able to make such an agreement, it is not at all obvious that Europe would be in any measure capable of actually coming to an agreement between 28 member-states to move forward with that trade agreement.”

He says that problem could have impacts on U.S. business in the EU in the future.

“In the meantime, despite the fundamental underlying economic problems of the EU, an absences of growth, high unemployment, a sluggish demand, it is very encouraging to see the demand for U.S. beef has remained very resilient.”

Brook says U.S. beef is the most expensive in Europe.

“Some of the higher cuts can be sometimes three to four times the price of similarly named piece of meat from a different origin.”