China is raising tariffs on US pork and beef
Duties for US pork and beef imports will increase with 10%, according to official sources from Beijing who announced this as the latest retaliation move in the US-China trade war. It also comes in a moment when China is increasing constantly pork and beef imports as the ASF situation in the country is depleting the domestic supply of pork.
The new Chinese tariffs will take effect from September 1 and are going to be added at those existing already such as the 62% tariff on US pork. "Any escalation in the trade dispute with China is a major concern to US pork producers. China, the largest pork-consuming nation in the world, is seeking reliable sources of pork as it deals with African swine fever. There is no more reliable source than the United States. US pork producers are eager to compete on a level playing field in China and to more fully participate in this unprecedented opportunity. Unfortunately, the current trade dispute prevents us from doing so," commented Jim Monroe, assistant vice president of the National Pork Producers Council (NPPC).
On the other hand, Washington announced that a trade deal with Japan is underway and, once implemented, will place the US meat industry back on a level playing field with international competitors in one of its most important export markets. Dr. Dermot Hayes, an economist at Iowa State University, estimates exports to Japan will grow from $1.6 billion in 2018 to more than $2.2 billion over the next 15 years as a result of the United States pork industry getting market access in Japan as favorable as its competitors. At this time, Japan accounts for 25% of US pork exports.
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