US removes reciprocal tariff on NZ beef
Red meat farmers and processors are welcoming a US Government announcement - removing its reciprocal tariffs on a range of food products, including New Zealand beef.
Particularly China. For decades, Chinese demand underpinned the US Midwest economy, taking roughly a third of US grain production.
Then came the Trump trade wars.
The response by the US government will be to release billions of dollars in aid for the losses created by its own policies. China has pivoted fast, locking in long-term supply deals with Brazil and expanding its crushing and logistics capacity.
The result is a trade shift that will possibly be permanent.
American farmers voted overwhelmingly for Trump and its cold comfort to the Hound that they are now finding it’s hitting their bottom.
