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China hits back cancelling US pork import order

  • The same week U.S. President Donald Trump announced sweeping increases on tariffs against Chinese goods, Chinese buyers dropped orders for 3,247 metric tonnes of U.S. pork – the biggest cancellation in more than a year.
  • The cancellation came during the week ended May 9, a blow to the $6.5 billion export market for American pork, vital to the burgeoning U.S. meat industry.
  • Prior to the trade war, China and Hong Kong combined were the second largest export market for U.S. pork.

The same week U.S. President Donald Trump announced sweeping increases on tariffs against Chinese goods, Chinese buyers dropped orders for 3,247 metric tonnes of U.S. pork – the biggest cancellation in more than a year, according to U.S. Department of Agriculture data released on Thursday.

The cancellation came during the week ended May 9, a blow to the $6.5 billion export market for American pork, vital to the burgeoning U.S. meat industry.

Prior to the trade war, China and Hong Kong combined were the second largest export market for U.S. pork.

For months, the U.S. farm sector – which has been among the hardest hit by the trade war between the world’s two largest economies – has been banking on China increasing its U.S. pork purchases due to African swine fever (ASF).

Read more on CNBC .

 

Source: CNBC

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