news24xx.com
Friday, 14 Dec 2018

Due to the trade war with US, China buys food products from another countries

news24xx


IllustrationIllustration

News24xx.com - The main objective of Donald Trump's trade war is to pressure Beijing to "buy products from America", but in relation to US meat imports which worth millions dollar, China have the possibility to buy from other countries.

The application of Beijing's tariffs on pork and beef from US makes these two products very expensive and Chinese importers also switch to other countries, this trend seems to be followed by other sectors. "When goods from US are very expensive because of import taxes ... we will buy from other regions" said Zhang Lihui, manager of PMI Foods, one of the global meat companies.

"For beef, we will buy more from Australia, South America and possibly few from Canada."

PMI Foods has stopped importing pork from United States after Beijing imposed a tariff that is in return for Donald Trump's additional government charges applied last month and has made prices skyrocket in China.

Zhang added that changes in trade patterns due to the "definite" tariff war would benefit other countries and harm US. "The Chinese market will definitely find a replacement" he said.

The impact of tariff wars imposed on a range of types of products is still difficult to estimate. But analysts warn that US exporters will lose Chinese market in large numbers.

United States exported pork and beef and derivative products worth around USD 140 million to China in June before additional tariffs were imposed. The US Meat Export Federation said that exports to China were around 10 percent of the total exports of the country's pork and beef.

 

 

 

News24xx.com/fik/red

NEWS24XX.COM

Can be read in English and 100 other International languages





loading...
Versi Mobile
Loading...