Chinese officials announced an increase in tariffs on agricultural products from the United States, including on imports of beef and pork by 10%. In addition, one of the reasons for price increases is that China is forced to increase imports of pork and beef due to African swine fever. Bottom line: China will raise tariffs for beef and pork.
Pork producers in the United States have already faced a 62% tariff on their exports, a tool that China introduced last year. Jim Monroe, assistant vice president of the National Pork Producers Council, said last Friday that any escalation of trade dispute with China is a serious problem for pork producers in the United States.
Meanwhile, analysts note that the escalation of the trade war between the United States and China threatens the global economy. The Dow Jones Industrial Average fell more than 600 points last Friday (almost 2.4%) after news of the growing tensions between the two largest economies in the world.
Source: piginfo.ru.
