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· China Excludes Essential Food Products from Tariff Increase on US Goods
… Major U.S. agricultural products such as fresh pork, soybeans, wheat, and sorghum that make up the bulk of U.S. exports to China aren’t included on this new list… The third category, with 10 percent tariffs, includes processed vegetables, chicken breast…
· Ships Steam to China With U.S. Cargoes as Tensions Escalate
‘The risk of possible cancellations just got higher:’
China Excludes Essential Food Products from Tariff Increase on US Goods
By Nicole Hao, The Epoch Times
May 13, 2019
China announced on May 13 that it would increase tariffs ranging from 5 to 25 percent on 5,140 U.S. products, worth about $60 billion, as retaliation for a recent U.S. tariff hike on $200 billion of Chinese goods.
Beijing said the new rates would be effective June 1.
Major U.S. agricultural products such as fresh pork, soybeans, wheat, and sorghum that make up the bulk of U.S. exports to China aren’t included on this new list. Most of the products with added duties are electronic products. Microwaves, printers, and telecommunication equipment are among those with the highest tariff rates.
With China’s domestic food supply encountering shortfalls, the Chinese regime is likely to continue importing U.S. food products despite the self-imposed tariffs.
Reignite the Trade War
Two hours after U.S. President Donald Trump urged in a Twitter post that China should refrain from retaliating, Beijing announced the new tariffs.
Trump had warned: “There will be nobody left in China to do business with. Very bad for China, very good for USA!… Therefore, China should not retaliate-will only get worse!”
On May 13 afternoon, Trump said he would meet with Chinese leader Xi Jinping at the G20 summit in Japan in late June, adding that he expects discussions would be “very fruitful.”
China’s State Council, a cabinet-like agency, announced through its Customs Tariff Commission Office the full tariff list, which divides the 5,140 U.S. goods into four categories.
Back in September 2018, after the U.S. administration imposed 10 percent tariffs on $200 billion of Chinese goods, China’s Ministry of Commerce had announced retaliatory tariffs on these same four categories of products, but with 10 percent tariffs on the first and second categories, and five percent tariffs on the third and fourth categories.
The first category will be charged 25 percent duties, a long list of items ranging from food products such as fresh and frozen sheep meat with bones, processed beef, several types of processed grains, processed pig hind legs, coffee, sugar, and beer—to everyday consumer products such as clothing, household appliances, and cameras.
The second category, with 20 percent tariffs, includes processed fruit, computers, radar, sports equipment, fitness products, and so on.
The third category, with 10 percent tariffs, includes processed vegetables, chicken breast, musical instruments, and diapers.
The fourth category, with 5 percent tariffs, covers occupational equipment such as tractors, fire trucks, and hospital equipment and materials.
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Ships Steam to China With U.S. Cargoes as Tensions Escalate
‘The risk of possible cancellations just got higher:’ Morrison
At least 10 bulk carrier cargoes are steaming toward China
By Kevin Varley and Michael Hirtzer, Bloomberg
May 13, 2019
As the U.S.-China trade war escalates, speculation is swirling over whether the Asian nation will honor purchases of American products including soybeans and cotton that are yet to be delivered.
At least 10 bulk carrier cargoes are in transit, while at least one vessel managed to offload its U.S. cargo on the weekend as tensions between Washington and Beijing flared.
Bulk carrier Fiji arrived in Dalian Sunday, waiting a week before congestion cleared to enter port. The cargo originated from Export Grain Terminal Longview in the Pacific Northwest with 67,113 metric tons of soybeans, according to U.S. Department of Agriculture and IHS shipping data analyzed by Bloomberg. China has bought about 7.4 million tons of U.S. soybeans that haven’t been shipped yet, USDA data show.
Another 468,000 tons of American corn, 103,000 tons of pork and 704,000 running bales of cotton also have been sold but not yet shipped to China, according to the USDA.
“The shipments of the sales on the books have been slow-walked recently,” said St. Louis-based independent analyst Ken Morrison. “The risk of possible cancellations just got higher.”
There is similar anxiety for U.S. cotton orders. “What we’ve sold to them, people are concerned they are not going to take that,” said Jody Campiche, vice president of economics and policy analysis for the National Cotton Council of America.
China on Monday announced higher tariffs on dozens of products, including soy-based biodiesel even though China has imported virtually none of the fuel from the U.S. this year.
“While the Chinese market is only a small, emerging one for U.S. biodiesel producers right now, the proposed tariffs add to the headwinds for our industry and U.S. soybean farmers,” Kurt Kovarik, vice president of federal affairs at the National Biodiesel Board, a trade group, said Monday in an emailed statement.
In the energy sector...