Agricultural News
U.S. Pork Can Reduce Overall U.S. Trade Deficit with China by Nearly 6%
Tue, 26 Nov 2019 15:11:46 CST
Securing zero-tariff access to China for U.S. pork would be an economic boon for American agriculture and the country, according to the National Pork Producers Council (NPPC). Based on an analysis by Iowa State University (ISU) Economist Dermot Hayes, NPPC says unrestricted access to the Chinese chilled and frozen market would reduce the overall trade deficit with China by nearly six percent and generate 184,000 new U.S. jobs in the next decade. NPPC today launched a digital campaign to spotlight the importance of opening the Chinese market to U.S. pork as trade negotiations continue.
"Were it not for China's tariffs that are severely limiting access to American goods and other restrictions, including customs clearance delays, U.S. 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 to U.S. pork producers, our nation and Chinese consumers who rely on this essential protein," said Hayes.
According to Dr. Hayes' analysis, U.S. 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 U.S. 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, a hog farmer from Lillington, N.C. "The United States is the lowest-cost producer of pork in the world, but with 72 percent 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, a disease affecting only pigs with no human health or food safety risks, reducing domestic production by more than 50 percent and resulting in a mounting food price inflation challenge for the country.
NPPC has launched a digital communications campaign to broaden awareness for the unique opportunity for U.S. pork in China. For more information, click here.
Source: National Pork Producers Council
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