Thank you, Mr. Easter. I appreciate the question.
On Korea, we are pleased that we have been able to reach an agreement with Korea on the restrictions they had in place, which were put in place after the BSE and were, in fact, not in line with those of the World Organisation for Animal Health, the OIE. Canada had launched a WTO case, and we're pleased that we're moving forward with this in a way that doesn't require us to go back to the WTO.
In fact, that WTO case has been suspended because Korea has come into compliance. But there's no question that it would be beneficial to Canada and to the beef industry in Canada if we were to have a free trade agreement with Korea. There's absolutely no question about that, and it's something that the cattle industry and the beef industry strongly support. We strongly support revitalization of those negotiations, and we hope they're successful because right now we're at about a 22% disadvantage to U.S. products going into Korea. That's a pretty big hurdle to overcome, so absolutely it would be beneficial to have an agreement with Korea. But on the non-tariff barrier front, I think we have seen some movement in recent months, and we have suspended our WTO case because of that movement.
I just wanted to add a couple of comments to the discussion on regulatory harmonization. I think this issue goes beyond the grains and oilseed issue. It covers all of agriculture. We see that with animal pharmaceuticals as well. I hope we can have this kind of regulatory cooperation with all of our trading partners. I know there are discussions through the Regulatory Cooperation Council with the United States as well, and I hope those will be helpful, but these are issues that do need to be part of any future trade negotiation. It's not just about tariffs and quotas anymore.