INDUSTRIAL NEWS AND ANNOUNCEMENTS

The price of such US products as cherries, pork, and whiskey rose sharply in China when the increased customs tariff came into effect on July 6th. This significantly weakens the competitive power of "US manufacture". China imported 140 million USD worth of soybeans. There is currently no country with the ability to export that amount of soybeans to China. Now that the increased customs tariff is in place, China will look for additional soybean imports from South America, Central Asia, and Eastern Europe. In addition, China will strengthen the soybean production in north China.

Furthermore, the US sold 4.8 million tons of sorghum to China. Australia was once the largest exporter of sorghum to China, and as a result of the increased customs tariff, they will receive renewed attention from the Chinese market. As for US cherry production, industry analysts say that if US cherry farmers suffer losses as a result of the increased tariff for the next two years, then they are likely to shift their attention from China to Turkey and Uzbekistan.

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