September 2, 2015
WTO orders for rescinding of US import ban on Argentine beef
The World Trade Organization has ordered for the abrogation of a 14-year suspension on Argentina's beef imports, imposed by the US, Bueno Aires Herald reported.
Argentine foreign minister, Héctor Timerman, called the outcome a "huge victory" for the country, and good news for local cattle breeders. "Argentinahas been unsuccessfully trying to persuade the US to lift trade barriers since 2003 so we took the case to the WTO, which favoured Argentina," he added.
With its implementation, the ban had inflicted Argentina a $1.6 billion loss, according to the minister of agriculture, Carlos Casamiquela.
Meanwhile, Timerman warned of responsive measures that could prevent the rescinding of the ban. "US cattle organisations and vulture funds constitute the largest lobby organisation, called ATFA. They stand together with one goal: to prevent Argentina from exporting beefto the US and pushing to avoid a fair and legal outcome of the external debt conflict," he said.