As The White House announces a new trade deal with China, ranchers in Texas praised the Trump administration's agreement with the foreign power. The United States has pressured China for years to allow beef imports, but the process has been constantly delayed.
Nebraska Cattlemen is very excited the Trump Administration has reached an agreement with China to restore market access for USA beef.
On Friday, when he was asked if the trade talks with the USA were related to the country of North Korea, a China representative said economic issues shouldn't be politicized. The deal fully lifts the Chinese ban on USA beef enacted due to fears of mad cow disease.
On a more symbolic level, the deal reflects the positive tone of relations between Chinese President Xi Jinping and Trump since their first face-to-face meeting last month in the U.S.
"It's impossible to overstate how beneficial this will be for America's cattle producers, and the Trump administration deserves a lot of credit for getting this achieved", he said.
US beef producers and financial firms will get more access to Chinese markets in exchange for chicken imports and a potential opening for Chinese banks.
Cheniere Energy, which operates the only current operating U.S. LNG export terminal, said it was in talks to start exports to China using long-term contracts.
Restoring access to China was a top priority for the U.S.beef industry, especially in Minnesota.
Cattle feeder Herman Shumacher said he hopes that exports to China will help bump up the USA cattle market but he said details are important.
Meanwhile, Sumner says India and Indonesia are two more countries where his organization would like to see policy reforms.
For example: China will review eight pending USA biotech product applications that they have been on hold, but no guarantee to approve them ... Last fall, the Obama administration secured preliminary access to the Chinese market for USA beef exports, which had been disrupted for more than a decade because of the "mad cow" scare, but hadn't finished the technical trade talks. However, progression in trade negotiation talks marks an encouraging development between the two nations under the Trump administration.
Area producers believe once China starts to get USA beef again that there will be a significant increase on the entire cattle industry.
The joint statement said the United States would send a delegation to China's One Belt, One Road summit on Sunday and Monday - Xi's signature project.
But a report by Capital Economics consultancy saw "paltry trade benefits" from the deal because it would amount to "just a few billion dollars". "We've demonstrated that for years with other markets around the world".
The Chinese are growing their appetite for beef while producers will get access to a growing middle class that are asking more for the food.
Though a decent start, it won't do much to reduce Uncle Sam's trade deficit with China, which stood at almost $350 billion in 2016 - and which widened in March.
The Chinese market is estimated to be worth $2.6 billion for the USA beef industry.
Both sides played up the deal.
Beijing and Washington also said Thursday that they will open a comprehensive economic dialogue this summer with the aim of working out a yearlong plan.