China’s government has canceled export clearances for hundreds of U.S. beef plants during ‌a summit between the U.S. and Chinese presidents that’s being held this week in Beijing.
More than 400 U.S. beef plants lost their access to the Chinese market over the past year as Beijing’s permissions lapsed without ​a renewal.
The export license renewals would be a win for the U.S. beef industry, ⁠after the White House said in recent weeks the issue would be raised at the Beijing ​summit.
During a bilateral ​meeting with U.S. President ​Donald Trump, Chinese President Xi Jinping called on both sides to expand cooperation in areas such as trade and agriculture.
China’s government then appeared to renew the U.S. beef export licenses, allowing American producers to ship products to the Chinese market.
But hours later, those export licenses were again halted, according to media reports. Cargill ​CEO Brian Sikes is among the U.S. business leaders accompanying Trump on his China trip.
Plants owned ​by Cargill and Tyson Foods (NYSE: $TSN) were included when the export license renewals first appeared on China’s customs website, only to be revoked a short time later.
U.S. beef exports to China have fallen ⁠steadily ​to about $500 million U.S. last year from $1.7 ​billion U.S. in 2022 as Beijing has sourced meat from countries other than America.
