US Beef Industry Expresses Concerns on Amendments to KORUS

The call by the Trump administration to address issues under the U.S.-Korea free trade agreement (KORUS) is raising concern from the U.S. beef industry that they could lose benefits they have gained from the trade deal."Under KORUS, the U.S. beef industry has seen an 82 percent increase in annual sales to South Korea, from $582 million in 2012 to $1.06 billion in 2016," officials from the National Cattlemen's Beef Association, North American Meat Institute and U.S. Meat Export Federation said in a letter to U.S. Trade Representative Robert Lighthizer and USDA Secretary Sonny Perdue."Simply put, KORUS created the ideal environment for the U.S. beef industry to thrive in South Korea," the lawmakers said. "We would not support any changes in the terms of the KORUS that would jeopardize either our market share or the significant investment that has been made in rebuilding Korean consumer confidence in the safety, quality and consistency of U.S. beef."