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Bob Larson Beef Trade Losses and BASF Closes Assets for Bayer Deal
by Bob Larson, click here for bio

Program: The Agribusiness Update
Date: August 07, 2018

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From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.

**With the European Union and Japan recently signing a comprehensive economic partnership agreement and the revised 11-member Trans-Pacific Partnership moving toward implementation, the U.S. Meat Export Federation is assessing the potential losses in U.S. beef.

USMEF Economist Erin Borror says on the beef side, Australia already has a significant tariff rate advantage in Japan through a bilateral trade agreement, but this gap will widen further under the new TPP.

Beef from Canada, New Zealand and Mexico will also enjoy more favorable market access in Japan.

**Ag Secretary Sonny Perdue is adamant the ag issues separating the U.S. and European Union be negotiated in upcoming trade talks, but EU officials say that won’t happen.

As reported in Agri-Pulse, Purdue said “I think that’s very one-sided” when he got the news.

But, in text from that agreement, it states the U.S. and EU will enter into talks to increase trade in services, chemicals, pharmaceuticals, medical products, as well as soybeans.”

An EU spokeswoman stressed the word "agriculture" does not appear in the joint text.


** BASF has closed its acquisition of businesses and assets from Bayer. The transaction resulted from divestments Bayer had to make in order to satisfy Department of Justice competition concerns regarding its purchase of Monsanto.

BASF officials say these acquisitions complement the German firm’s BASF’s crop protection, biotech, and digital farming activities and marks its entry into seeds, nonselective herbicides, and nematicide seed treatments.


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