Chinese Pork To Pay High Price For U.S. Trade Spat
Chinese consumers could face significantly higher pork prices in the medium term after Beijing slapped more import tariffs on U.S. agricultural products in its trade dispute with Washington, the OECD and FAO have said.
China said last month it would impose an extra 25 percent import duty on more than 500 U.S. goods, including soybeans, on July 6. This was in response to Washington's plan to put duties on $50 billion of Chinese goods as the trade dispute between the world's top two economies escalated.
The tit-for-tat trade threats have already disrupted trade flows across the commodities industry from sorghum to coal and inflated prices of animal feed ingredients such as soymeal.
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