ICYMI: $US3 to 5 billion in US beef, pork and chicken trade to China is at risk

Local media here in Australia had the report Friday ICYMI:

• licences for hundreds of US companies to export meat to China will expire on Sunday
• if they aren’t renewed $US3 billion in US beef, pork and chicken trade to China is at risk

I’ve seen estimates of higher than 3bn, up to 5bn.

More:

• almost 1000 export registrations are set to expire
• Chinese authorities have not responded to licence renewal requests
• the export agreements were part of Trump’s first term trade agreement with China
• earlier in March China imposed retaliatory tariffs on around US$21 bn of American agricultural goods

I’m trying to think of a scenario where China renews these licences. I can’t see why they would though.

The Trump trade war impacts continue to ratchet higher.

This article was written by Eamonn Sheridan at www.forexlive.com.