NZ red meat sector hits out at US tariff hike
New Zealand's red meat sector says the United States' decision to increase tariffs on New Zealand exports is disappointing.
Certainly, it's lower demand from China that's holding back a recovery to full health in meat industry returns, whoch had been decidedly sick until recently.
MIA data shows positive growth overall in June, driven by the US, up 14% to $303m, Japan up 53% to $61m, the UK up 66% to $61m and Canada, up 94% to $51m.
China, still the second largest market after the US, was down 38% to $176m - dragging the June average back to a 2% increase overall.
Same deal with second quarter red meat exports, down 1% to $2.9b despite all major markets boosting volumes, except China, which was down a whopping 40%.
