The same week U.S. President Donald Trump announced sweeping increases on tariff...
CHICAGO - The same week U.S. President Donald Trump announced sweeping increases on tariffs against Chinese goods, Chinese buyers dropped orders for 3,247 metric tonnes of U.S. pork - the biggest cancellation in more than a year, according to U.S. Department of Agriculture data released on Thursday.
The cancellation came during the week ended May 9, a blow to the $6.5 billion export market for American pork, vital to the burgeoning U.S. meat industry. For months, the U.S. farm sector - which has been among the hardest hit by the trade war between the world’s two largest economies - has been banking on China increasing its U.S. pork purchases due to African swine fever .
Earlier this year, China canceled sales of 53 metric tonnes in the week ended Feb. 28, sales of 999 metric tonnes in the week ended March 21, and 214 metric tonnes in the week ended April 18, according to USDA data.“It’s just disappointing that this trade war could drag on for months and that means more tariffs on pork,” said Dennis Smith, commodity broker with Archer Financial Services. “This should not be happening. We should be selling a lot of pork to China, because of ASF.
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