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


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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.

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