Local media here in Australia had the report Friday ICYMI:
- licences for hundreds of US companies to export meat to China will expire on Sunday
- if they aren’t renewed $US3 billion in US beef, pork and chicken trade to China is at risk
I’ve seen estimates of higher than 3bn, up to 5bn.
More:
- almost 1000 export registrations are set to expire
- Chinese authorities have not responded to licence renewal requests
- the export agreements were part of Trump’s first term trade agreement with China
- earlier in March China imposed retaliatory tariffs on around US$21 bn of American agricultural goods
I’m trying to think of a scenario where China renews these licences. I can’t see why they would though.
The Trump trade war impacts continue to ratchet higher.
This article was written by Eamonn Sheridan at www.forexlive.com.
