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Tariffs, taxes may cut US farm exports, increasing China food costs
来源： 编辑：编辑部 发布：2018/07/04 09:11:09
TARIFFS may cut American farm exports' value to China 40 per cent, according to the Chinese Academy of Agricultural Sciences, reports Bloomberg.
Separately, China has also cracked down on livestock pollution with a new tax increases costs in pork, poultry and dairy production.
US soybean, cotton, beef and cereal exports to China may drop 50 per cent, said the academy report published on its official WeChat account.
The price of imported soybeans may rise 5.9 per cent and imported cotton prices may increase 7.5 per cent, with minor impacts predicted for other farm goods, it said.
China is the world's top importer of soybeans and rice, third-biggest cotton buyer and biggest wheat producer.
China could take measures including sourcing supply from countries within the "One Belt, One Road" initiative, increasing purchases of soybean substitutes and supporting domestic production of the oilseed, according to the think tank.
It also suggested that the government maintain its minimum purchase prices for wheat and rice and subsidise growers.
"To resolve the trade dispute via negotiation is still a win-win move," the report said. China was the world's largest buyer of farm products in 2017.
The country's large volume of imports of land-intensive crops including grains, oilseeds and cotton, help save its farmland and water resources.
Separately, China has also cracked down on livestock pollution with a new tax increases costs in pork, poultry and dairy production.
US soybean, cotton, beef and cereal exports to China may drop 50 per cent, said the academy report published on its official WeChat account.
The price of imported soybeans may rise 5.9 per cent and imported cotton prices may increase 7.5 per cent, with minor impacts predicted for other farm goods, it said.
China is the world's top importer of soybeans and rice, third-biggest cotton buyer and biggest wheat producer.
China could take measures including sourcing supply from countries within the "One Belt, One Road" initiative, increasing purchases of soybean substitutes and supporting domestic production of the oilseed, according to the think tank.
It also suggested that the government maintain its minimum purchase prices for wheat and rice and subsidise growers.
"To resolve the trade dispute via negotiation is still a win-win move," the report said. China was the world's largest buyer of farm products in 2017.
The country's large volume of imports of land-intensive crops including grains, oilseeds and cotton, help save its farmland and water resources.