Concern Over China’s Tariff Announcement

USMEFlogoOn April 4, the Chinese government announced a proposal to levy retaliatory tariffs of 25 percent on China’s imports of agricultural and food products from the United States, including U.S. beef.  The following statement is from U.S. Meat Export Federation (USMEF) President and CEO Dan Halstrom;

China is a promising market for U.S. beef, and, since the June 2017 reopening, the U.S. 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 U.S. beef has steadily gained momentum in China and our customer base has grown. But if an additional import tariff is imposed on U.S. 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 U.S. beef.

In the second half of 2017, following the market reopening, U.S. 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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