Trade War Seen Costing U.S. Pork Producers $1 Billion
(Bloomberg) -- U.S. pork producers are losing $1 billion annually because of the Trump administration’s trade war with China, said David Herring, an industry association official.
Herring, president of the National Pork Producers Council, told a House Agriculture subcommittee on Tuesday that retaliatory tariffs imposed by China and other countries are “one of the most damaging threats” to his industry. The dispute with the Asian nation has cost producers $8 per animal annually.
“This year, the average hog farmer is making a very small profit through the first six months of the year,” Herring said. “Those small profits would be much higher were it not for trade retaliation from China.”
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