(WASHINGTON) — President Donald Trump celebrated a new agreement Friday to increase beef exports to the European Union, saying sales should increase by 46 percent in the first year.
Trump portrayed the agreement as standing up for farmers and ranchers. Producers have been hurt by retaliatory tariffs that China imposed after Trump imposed 25% tariffs on $250 billion in Chinese products.
The signing of the agreement comes the day after Trump increased pressure on China to reach a trade deal by saying he will impose 10% tariffs Sept. 1 on the remaining $300 billion in Chinese imports he hasn’t already taxed.
The European Commission announced in June that it had reached an agreement with the U.S. to allow more hormone-free U.S. beef onto the European market.
“Opening markets for our farmers is about more than just an industry. It’s about a way of life,” Trump said from the White House before the signing of the agreement.