Chinese officials this week announced a new list of U.S. products they’re retaliating against following President Trump’s decision to place tariffs on steel and aluminum imports from the Asian Country. American Beef is now part of the list. National Cattlemen’s Beef Association Senior Vice President of Government Affairs Colin Woodall says they’re trying to assess what the financial impact will be.
He says it’s disappointing this action was taken just when the U.S. was beginning to regain the Chinese market for U.S. beef.
Woodall says the indirect impact comes from the Chinese retaliation against U.S. pork which will in turn affect the price of beef.
Woodall says the first retaliation list announced by China was a 25 percent tariff on U.S. pork and 15 percent on ethanol, then later they added soybeans, automobiles and mechanical products. He says at this point it’s just been announced but there’s been no implementation yet.
