China lifted ban on importing U.S beef and American companies are readying for getting a bite of that $2.6 billion markets. Fred Katayama reports.
Chinese customers at this Sam's Club in Beijing could finally try and buy American beef ... for the first time in 14 years. China banned American beef in 2003 due to a scare over mad cow disease. But now the market is opening. U.S. ambassador to China Terry Brandstad: (SOUNDBITE) TERRY BRANSTAD, U.S. AMBASSADOR TO CHINA, FEDERATION, SAYING: "The return of U.S. beef to China is an example of how cooperation between our two countries can yield real results. I want to reiterate our commitment as a U.S. representative to China to work everyday to expand trade to increase American exports and we believe that beef is a good and a great beginning for this process." China's beef imports hit $2.6 billion last year, making it the world's fastest-growing overseas market for the meat. The U.S. is positioning itself take a big bite of that market.