China presses Washington for tariff cut in trade deal
- by Lorene Schwartz
- in People
- — Nov 16, 2019
China is lifting a five-year ban on USA poultry, a goodwill gesture at a time when the world's two biggest economies are trying to finalize a tentative trade deal.
Reopening the market to USA poultry meat comes as China faces an unprecedented shortage of protein, after a fatal hog disease killed millions of pigs in the pork-loving country.
China had blocked US poultry imports a month after an outbreak of avian influenza in December 2014, closing off a market that bought more than $500 million worth of American chicken, turkey and other poultry products in 2013.
The U.S. Trade Representative Robert Lighthizer said in a statement on Thursday that the U.S. welcomed China's decision to lift its "unwarranted ban" on U.S. poultry.
"The United States welcomes China's decision to finally lift its unwarranted ban on US poultry and poultry products". Tyson Foods gained 2.1%, Sanderson Farms climbed 4.1% and Pilgrim's Pride Corp rose 1%.
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Trump last month held off on a round of tariff increases, and White House officials have suggested that as part of the current mini-deal he could delay fresh tariffs on US$160 billion worth of Chinese goods planned for mid-December.
Prior to the ban in 2015, American poultry producers exported over $500 million in products to China.
Beijing said last week American negotiators agreed to roll back penalties imposed in September on $112 billion of Chinese imports if an agreement goes ahead. Big differences over China's technology policies were largely unaddressed and left for future negotiations. USA officials said the industry had been free from the avian flu disease since 2017, but it had not resulted in a resumption of trade.
Beijing and Washington have been embroiled in an 18-month trade war which has weighed on the global economy, and two sides have slapped punitive tariffs on hundreds of billions of dollars in two-way trade. The Chinese Commerce Ministry said Thursday it still expected the U.S. to lift punitive tariffs on its imports, which Trump has sharply rejected.
