South Korean media: China has greatly reduced US pork imports, and US exports have plummeted by 72%!
On April 26, the South Korean media "NEWSIS" published an article stating that with China greatly reducing its imports of US pork, the weekly export volume of US pork has plummeted by 72%.
The announcement released by the US Department of Agriculture shows that from April 11 to 17, the US pork export volume to China decreased by 12,030 tons compared to the previous week (April 4 to 10).
The weekly export volume of US pork to China is at its lowest level since the global supply chain was disrupted by the COVID-19 pandemic in May 2020.
In addition, during the same period, the total net export volume of US pork was 5,800 tons, a sharp decline of 72% compared to the previous week. This is also the lowest level since October last year.
China is the world's largest importer of pork, and imported 475,000 tons of pork from the US last year. Its value exceeded $1.1 billion. China is the third largest importer of US pork after Mexico and Japan.
Since taking office in January this year, US President Trump has imposed a total tariff of 145% on Chinese imported products.
Moreover, the tariff China imposes on US pork is as high as 172%. The US Meat Export Federation stated: "The current tariff rate makes it impossible for US companies to compete in the Chinese market."
It was reported that China has reduced its imports of US pork while increasing its imports from other countries such as Brazil. In addition to the US, China also imports pork from Brazil, Spain, Chile, the Netherlands, and Canada.
In addition, according to the US Department of Agriculture, China has also reduced its imports of US soybeans. From April 11 to 17, China imported 1,800 tons of US soybeans, a sharp decrease compared to 72,800 tons in the previous week.
Original source: https://www.toutiao.com/article/1830467345399818/
Disclaimer: This article only represents the views of the author.