China's Latest Tariff Announcement Puts Business Relationships, Opportunities at Risk, Says USMEF
US - Yesterday, the Chinese government announced a proposal to levy retaliatory tariffs of 25 per cent on China’s imports of agricultural and food products from the United States, including US beef.
5 April 2018
1 minute read
Responding to this latest proposal, US Meat Export Federation (USMEF) President and CEO Dan Halstrom issued a statement saying: "China is a promising market for US beef, and, since the June 2017 reopening, the US industry has made an exceptional effort to provide customers with high-quality beef at an affordable price. This is not an easy task, due to our 13-year absence from the market and China’s beef import requirements.
"Over the past nine months, interest in US beef has steadily gained momentum in China and our customer base has grown. But if an additional import tariff is imposed on US beef, these constructive business relationships, and opportunities for further growth, will be put at risk. USMEF is hopeful that this trade dispute can be resolved without China introducing additional obstacles for US beef.
"In the second half of 2017, following the market reopening, US beef exports to China totaled 3,020 metric tons valued at $31 million. In January 2018, exports reached the highest monthly volume to date at 819 metric tons, valued at $7.5 million."
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