China restores US beef trade amid Trump-Xi summit, alarming Brazilian exporters

AI Summary

China has reinstated US beef import licenses, raising concerns in Brazil about its impact on the local cattle market. Brazilian officials warn that this could reshape competition in Brazil's largest meat export market and affect domestic prices.

Brazil’s government expressed concern over China’s renewal of US beef import licences, warning the move could reshape competition in the country’s largest meat export market. A senior Brazilian government official told the South China Morning Post that the renewal brought “anxiety” to the sector and could affect domestic cattle prices. China is Brazil’s largest beef market, and the quota system already reduces the country’s competitiveness, the official said. The comments came after Bloomberg...