After Trump started the tariff war, the US beef market share in China was taken by Australia
After US President Trump initiated the "tariff war," multiple industries in the US faced obstacles in exports to China. According to a report by Reuters on September 29, since Trump returned to the White House, US beef exports to China have significantly declined. The export value over the past five months has decreased by hundreds of millions of dollars compared to the average level in previous years, and these market shares have been quickly taken over by Australia.
In recent years, US beef exports have generally shown a downward trend due to droughts that have reduced the number of cattle, leading to lower production and higher prices. However, the decline in US trade with China has been greater. Originally, US beef exports to China were about $120 million per month, but after Trump imposed tariffs and the export qualifications of hundreds of US beef companies expired in March, exports quickly "crashed".
Trade data shows that US beef exports to China in July were only $8.1 million, and in August they were $9.5 million, while the figures for the same period last year were $118 million and $125 million, respectively. These market shares were quickly taken over by Australia, whose beef exports to China increased from an average of $140 million per month to $221 million in July and $226 million in August.
Over the five months from April to August, US beef exports to China decreased by $388 million compared to the average level of the previous two years, while Australia's exports increased by $313 million.
The report said that Brazil, the largest beef supplier to China, has also recently increased its exports, but Australia has captured the most market share from the US, as its grain-fed beef is closer to the US product.
Original article: www.toutiao.com/article/1844649226485002/
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