Archive for June, 2018
Wall Street Journal: The Trade War’s First Casualties
On June 23rd, the Wall Street Journal reported "investors are likely to get hit before the U.S. and Chinese economies feel the pain, meaning the trade feud could escalate."
"The U.S. has already put tariffs on steel and aluminum and will add a 25% tariff on $50 billion in Chinese imports starting next month. China is matching the U.S. tariff for tariff. These actions have sent U.S. steel prices higher and U.S. soybean prices lower."
Two Nations Move Closer to a Trade War
Today, The American Feed Industry Association has updated its members on the US/ China potential trade war.
In part, AFIA's International Trade and Pet Food Committee stated in mid June, the US announced its intent to impose two sets of tariffs on $50 billion of Chinese goods in response to China's unfair trade practices related to the "forced transfer of American technology and intellectual property theft" pursuant to Section 301 of the Trade Act of 1974. China has since announced retaliatory 25% tariffs on a selection of U.S. goods. Subsequently, in response, President Trump ordered the US Trade Representatives to identify $200 billion worth of Chinese goods for an additional 10% tariffs.
The first set of US proposed tariffs on Chinese goods are set to take effect on July 6th.
China's first list of tariffs on US goods will also be implemented on July 6th.
Pet food is listed on the Chinese list of US products that will be subject to 25% tariff. The tariff is currently 4%.
Import duty will also be raised on US soybeans.
It is hoped that the US administration and the Chinese government will be able to come to a favorable settlement in time to avoid these tariffs.
Justify Wins The Triple Crown at Belmont!
Hallway Feed: Feed that fuels winners.
Triple Crown winner Justify enjoys a nutritious diet of Hallway Feed.
Call Fornazor International to learn where we export Hallway's premium products.
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