Americans are stuck with ginseng in warehouses
Wisconsin ginseng growers lose buyers due to 117% tariff
Wisconsin produces more than 90% of the country's ginseng. About 85% of it is exported to mainland China and Hong Kong.
Will Hsu is the president of Hsu Ginseng in Wausau. They grow their own ginseng and process it in Canada.
They have a warehouse full of herbs that no one is buying due to the tariff.
"Due to the trade war, the tariff on ginseng is now around 117%, which doubles the price for importers," said Hsu.
Wisconsin produces more than 90% of the country's ginseng. According to Fortune magazine, 85% of the crop is exported to mainland China and Hong Kong.
"Many companies choose not to import ginseng from Wisconsin," said Hsu, standing in front of a warehouse filled with boxes containing his remaining inventory for 2024. "They choose to buy products from Canadian producers or domestic producers in China."
Hsu said that buyers are now uninterested in importing from Wisconsin, and they are growing less ginseng than ever before.
In 2024, Wisconsin exported nearly $20 million worth of ginseng.
Original article: https://www.toutiao.com/article/1831318145025034/
Disclaimer: The article solely represents the author's个人观点