China’s finance ministry last week announced plans to impose retaliatory tariffs on nearly $60 billion worth of U.S. imports, should the Trump administration follow through on its plans to place tariffs on another $200 billion in Chinese goods. The duties are the latest development in a series of retaliations between the two countries.
The Chinese are targeting lactose, infant formulas, ice cream, chocolate milk and whey proteins and isolates. The move means that nearly all U.S. dairy products exported to the country will face additional import taxes.
Proposed Retaliatory Tariffs on US Dairy Exports to China
“This action will have a significant impact on IDFA members who export their products to our third largest export market,” said Beth Hughes, IDFA senior director of international affairs. “IDFA will continue to communicate members’ concerns with top officials within the administration. We will also continue to promote equitable trade as one of our top priorities.”
For more information, read “US Dairy’s Top Three Export Markets Increase Tariffs” from IDFA and “China Announces Supplemental Tariffs in Response to U.S. 301 Tariffs” from the U.S. Department of Agriculture.
IDFA is closely monitoring these actions and will update members on any relevant actions.
Members may contact Hughes at firstname.lastname@example.org.