China wants to impose trade tariffs on US pork products
Trump's administration intention on imposing new duties on Chinese aluminium and steel could be retaliated by a set of tariffs applied on agricultural products from the US, including pork, announced CNBC, quoting officials from China's Ministry of Commerce.
The US agricultural exports to China represent about $20 billion and a portion of 3$ billion could be subject to the new measures announced by Beijing. For US producers of pork, China is an important market, last year the country accounting for more than one-third of U.S. pork variety meat exports last year, both in volume and value.
In 2017, the U.S. industry exported 309,284 MT of pork and pork variety meat to China, valued at $663.1 million, the Chinese market representing the third-largest international market by volume and fourth-largest by value, according to US Meat Export Federation (USMEF) data.
"The announcement by the Chinese government that it is placing pork on a list of U.S. products that could be subject to increased import duties is cause for great concern in the pork industry. USMEF is seeking further details on this announcement and on the likely timing of any action by the Chinese government", declared Dan Halstrom, USMEF president.
From his point of view, China is a price-sensitive market, so any tariff rate increase would affect the competitive position of U.S. pork.
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