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China: U.S. Agriculture May Never Bounce Back

Dan Industry News Release, Trade

China threatens that U.S. agriculture won’t recover from the tit-for-tat trade war between the two countries.

agricultureIn the South China Morning Post, a government official warned that U.S. agriculture may never regain lost market share stemming from the trade war. China alleges that “many countries have the willingness” and capacity to take over market share occupied by U.S. goods.

Since the trade war began, China has imposed duties on 90 percent of agricultural goods from the United States.

China charges that additional tariffs will cause “a great decrease” in exports from the U.S. with “limited impact” on China due to diversified import sources. China’s vice agriculture minister also claimed that Chinese companies had “basically stopped” importing soybeans from U.S. farmers and would deal with the impact by finding alternative ingredients for animal feeds.

China is the world’s biggest importer of soybeans, which it uses to make cooking oil, biodiesel and livestock feed.

Source: National Association of Farm Broadcasting News Service.