Some eye-popping tariff numbers

China’s implementation of tariffs on U.S. products means U.S. pork faces a 62 percent tariff level. The National Pork Producers Council responded that U.S. pork farmers now face large financial losses and contraction because of escalating trade disputes, meaning “less income for pork producers and, ultimately, some of them going out of business.” China announced a new 25 percent tariff in response to U.S. action under Section 301 of the Trade Act of 1974. That tariff is on top of the 25 percent punitive duty levied by China in early April in response to U.S. action under Section 232 of The Trade Expansion Act. U.S. pork already had a 12 percent tariff on exports to China. The country also has a 13 percent value-added tax on most agricultural imports. China represented 17 percent of total U.S. pork exports by value in 2017. NPPC President Jim Heimerl adding, “We need these trade disputes to end."

 

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