President Trump on Friday signed a trade deal with EU officials that will increase U.S. beef exports to Europe.
Sales of "great American beef" will increase by 46% in the first year and rise by 90% over the next seven years. The agreement means that duty-free exports to the EU will increase from $150 million to $420 over the next seven years.
"This is a tremendous victory for American farmers, ranchers, and of course, European consumers," Trump said. "The European Union stepped up and we appreciate it."
The head of the German Farmers Association, Joachim Rukwied, said Saturday that the deal will "disadvantage European farmers."
"We are watching this with great concern," Rukwied said. "Opening the market for transatlantic imports of agricultural goods can also not be justified when considering the climate discussion."
Europeans have been concerned about U.S. practices of adding hormones or other chemicals to beef.
At the press conference with EU officials, Trump joked that he would put tariffs on 25% of all Mercedes Benz and BMW vehicles.
"I'm only kidding," Trump said. "They started to get a little bit worried. Thank you."
Trump has initiated multiple trade feuds with the EU, claiming that European subsidies have given Airbus, a France-based airplane manufacturer, an unfair advantage over U.S. planemaker Boeing.
The U.S. has taken the complaint to the World Trade Organization and if the complaint rules in Trump's favor, the U.S. could slap tariffs on all types of EU products, from Scottish Whiskey to French cheese.
Trump has also criticized France for its digital tax on U.S. tech companies such as Amazon, prompting him to threaten tariffs on French wine.
This article was first published in IBTimes US. Permission required for reproduction.
