US tariff on Brazilian beef to backfire: Brazilian industry insider

A Brazilian livestock industry insider believes that the United States will suffer greater loss than Brazil by imposing high tariffs on imported Brazilian beef, as U.S. consumers will also face a significant increase in the prices of beef-related products.

According to the U.S. policy, tariffs on over 2,000 kinds of Brazilian products exported to the United States, including beef, coffee and solid wood furniture, have been raised to 50 percent.

The United States is the second largest export market for Brazilian beef, accounting for about 12 percent of Brazil's total beef exports.

Mauricio Velloso, president of the Brazilian National Confined Livestock Association, said that the tariffs have led thousands of U.S. companies to suspend the import of Brazilian beef, which will also have a significant impact on U.S. consumers.

"Because U.S.'s local beef produces a large amount of fat during processing, while Brazilian beef is relatively leaner, this makes it very suitable for mixing with fat beef to achieve the fat/lean meat ratio required for making meatballs and hamburgers. Therefore, Brazilian beef is of great significance to both the U.S. economy and people's daily dietary structure. In the future, if the U.S. wants to meet the demands of its domestic market, it will have to pay a higher cost. Not only will prices rise, but it will also cause difficulties in the supply chain," said Velloso.

Velloso said the negative impact of the U.S. tariff policy on the United States itself will be far greater than that on Brazil.

"Losing a client doesn't mean you have truly lost the market, because the beef that was originally intended for export to the U.S. will export to other countries that are interested in Brazilian beef. First of all, it is because its high quality and it is fully guaranteed in terms of health quarantine. Second, it is very delicious. Brazilian beef is mainly grass-fed and has a unique and wonderful flavor. Third, the beef exported from Brazil is on average 21 percent cheaper than that from other exporting countries. So, once trade is disrupted, in fact, the losses suffered by the U.S. will be greater than those of Brazil," he said.

US tariff on Brazilian beef to backfire: Brazilian industry insider

China is willing to strengthen communication, enhance trust, eliminate interference, and deepen cooperation with Canada to bring bilateral relations forward on a steady and sound track in solid strides under the new circumstances, said Chinese Foreign Minister Wang Yi on Thursday.

Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, met with Canadian Foreign Minister Anita Anand in Beijing on the day.

Referring to Canadian Prime Minister Mark Carney's visit to China, the first by a Canadian prime minister in eight years, Wang said the trip marks a milestone in bilateral ties and signals a turning point in the relationship.

The leaders of the two countries will hold meetings and talks, which are expected to open up new prospects for bilateral relations, said Wang.

The world today is undergoing profound and complex changes, and the impact of China-Canada relations transcends the bilateral scope, Wang noted.

Wang said that China and Canada have different social systems, stemming from different historical and cultural heritage, and based on the choices of their respective people.

He urged both sides to view each other in a rational and amicable manner with an inclusive mindset, handle issues on the basis of mutual respect, focus on the agenda of cooperation, and send positive messages so as to foster optimism, inject greater confidence into the development of bilateral relations, and jointly build a new type of strategic partnership between China and Canada.

Anand said the new Canadian government attaches great importance to relations with China. She also added that Prime Minister Carney looks forward to engaging in in-depth exchanges with Chinese leaders during the visit to set the course for the development of bilateral relations, resume dialogue in various fields, pursue more mutually beneficial outcomes, enhance coordination and cooperation in multilateral affairs, and further advance the strategic partnership between the two countries.

China ready to work for steady, sound ties with Canada: FM