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America and China’s Tarriff Trade War Begins
At 12:01 am on July 6th, the US/ China trade war officially began.
In an article from the New York Times,
"A trade war between the world’s two largest economies officially began on Friday morning as the Trump administration followed through with its threat to impose tariffs on $34 billion worth of Chinese products, a significant escalation of a fight that could hurt companies and consumers in both the United States and China.
The penalties, which went into effect at 12:01 a.m., prompted quick retaliation by Beijing. China said it immediately put its own similarly sized tariffs on an unspecified clutch of American goods. Previously, the Chinese government had said it would tax pork, soybeans and automobiles, among other goods."
For the full article, go to:
www.nytimes.com/2018/07/05/business/china-us-trade-war-trump-tariffs.html
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Growth in Global Agriculture
"All About Feed Magazine" presented the findings of "The Agricultural Outlook 2018-2027", a report presented on July 3rd in Paris by OECD (Organization for Economic Cooperation and Development) and FAO (Food and Agricultural Organization of the United Nations).
The report predicts global agricultural and fish production is to grow by approximately 20% over the coming decade, with considerable variation across regions. Strong growth is expected in Sub Saharan Africa, South and East Asia, and the Middle East and North Africa. Production growth in the developed world is expected to be much lower, especially in Western Europe.
For the complete article, visit:
For your dairy and poultry farm feed needs, contact Fornazor International. We will be happy to provide quotes on a variety of animal and vegetable proteins. Ask about Super Pro Plus, a Halal certified vegetable protein.
Continue ReadingWall 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.
Fornazor International Moves Up in Rank as Reported by The Journal of Commerce
For the fifth consecutive year, Fornazor International has moved up in rank within the top 100 USA exporters for ocean container transport. The company now ranks #60 out of 100, up from #66 in 2016. And when it comes to exporting animal feed, the company is within the top 10 USA exporters.
Fornazor International is a trader of animal feed and ingredients, selling to over 40 countries around the world.
Fornazor International, Your Source for Vegetable Proteins
Looking for vegetable proteins from the USA? Fornazor International is your source for soybean meal, DDGs, corn gluten meal, corn gluten feed pellets, canola meal, cottonseed meal and more. We have 40 years experience in the business and can easily handle your request.
Please contact us for information.
2018 Kentucky Derby
John Fornazor is Appointed to AFIA’s Trade Committee
John Fornazor, CEO of Fornazor International, was appointed to the American Feed Industry Association's International Trade Committee. The AFIA is an industry association for feed ingredient buyers and sellers. The economic contribution of animal feed to the US economy is very important: in 2016, the animal food manufacturing industry contributed almost $300 billion in total US sales, employing over 940,000 people.
Fornazor is a trader of feed and ingredients for dairy and poultry animals. The company exports to over 40 countries around the world.
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