Pork Producers Concerned Over New China Tariffs

US fruit was on display in a supermarket in Beijing on Monday. China imposed tariffs on a selection of US goods Monday in response to President Trump’s tariffs on steel and aluminum

New Chinese tariffs on US pork products may not have a large impact on North Carolina producers.

China has responded to President Trump's tariffs on steel and aluminum with their own tariff list of 128 American-made products including pork, fruit, and wine.

The Trump administration this week will unveil a list of advanced technology Chinese imports targeted for USA tariffs to punish Beijing over technology transfer policies, a move expected to intensify trade tensions between the world's two largest economies.

Beijing said, by introducing tariffs of up 25% on 128 food items imported from the United States, they intend to safeguard local interests.

U.S. farmers criticized the new raft of Chinese tariffs, with the Farmers for Free Trade group calling them a "tax on American farmers, brought about by protectionist trade policies".

He said historically tariffs have negatively affected America's economy. And the second part covers a total of 8 taxes involving US$1.992 billion of United States exports to China, including pork and its products, recycled aluminium and other products, with a proposed tariff of 25 per cent. If these two major world economies occupy the U.S. country in the trade dispute, the problem becomes enormous. He also called it good news that the USA and China are talking with each other.

In a "field guide" on a potential China-US trade war, S&P Global Ratings said any retaliation by major USA trading partners will derail a synchronised global economic recovery. "The tariffs that China announced today don't sound a lot to me", said a user on Weibo, a Twitter-like microblog popular in China. More concerning, the USA annual balance for advanced technology products sales has fallen from a $35 billion surplus in 1992 to a $92 billion deficit in 2015. China raised import duties on a $3 billion list of USA pork, fruit and other products Monday in an escalating tariff dispute with President Donald Trump that companies worry might depress global commerce.

"That means my buyers are gonna have to pay more money on top of the price we've already agreed to so that makes it makes it harder to sell into that market", Williamson said.

"We're hopeful the United States and China will reach a solution soon", Woods said.

The U.S. goods deficit with China was about $309 billion in 2016.

Last month, the United States asked China not to implement the ban, saying it could disrupt global scrap material supplies.

U.S. President Donald Trump welcomes Chinese President Xi Jinping at Mar-a-Lago state in Palm Beach, Florida, U.S., April 6, 2017. However, he said about a quarter of all US hogs, including those in Montana, are produced for export.

And the $3 billion in US products that Beijing targeted Monday amount to barely 2 percent of American goods exported to China.

The retaliatory tariffs come as the trade tensions between Beijing and Washington escalate.

China, though, has always been the biggest trade target for Trump.

"When you start looking at cherries and plums and figs and some of the other fresh stuff we ship over to china we are looking at some very quick ramifications if this thing doesn't get resolved", Jacobsen said.

Trump campaigned on a promise to overhaul American trade policy. "That for me would be an escalation, whereas product-by-product back and forth, amounting to a few billion dollars here or there, is not a major substantive concern".