Trade Unrestricted access to China can reduce trade deficit
“Were it not for China’s tariffs that are severely limiting access to American goods and other restrictions, US pork could be an economic powerhouse, creating thousands of new jobs, expanding sales and dramatically slashing our nation’s trade deficit. China’s actions would unleash tremendous benefits,” said Hayes.
According to his analysis, US pork sales would generate $24.5 billion in sales if U.S. pork gained unrestricted access to the world’s largest pork-producing nation over 10 years.
“The US pork industry is missing out on an unprecedented sales opportunity in China when it most needs an affordable, safe and reliable supply of its favored protein,” said NPPC President David Herring. “The United States is the lowest-cost producer of pork in the world, but with 72% tariffs we are not nearly as competitive as Europe, Brazil, Canada and other nations.”
Pork is a staple of the Chinese diet and a major element of the country’s consumer price index. China’s swine herd has been devastated by African swine fever, reducing domestic production by more than 50% and resulting in a mounting food price inflation challenge for the country.
NPPC launched a digital campaign to spotlight the importance of opening the Chinese market to US pork as trade negotiations continue.