Traders at Asia’s biggest food fair in Shanghai are concerned about rising tariffs caused by the trade war
The Asia’s largest food innovation exhibition show case companies that import food items from the U.S. to China expressed hope that a trade deal could be reached soon.
As negotiations toward resolving the U.S.-China trade war stalled last week, Trump escalated pressure by increasing tariffs last Friday to 25 per cent from 10 per cent on a previous, $200 billion list of Chinese imports.
China retaliated on Monday with higher tariffs on a revised list of $60 billion worth of U.S. products.
The prospect of the global economy being derailed by the world’s two biggest economies sliding into a more protracted dispute has rattled investors and sparked a sharp selloff on equities markets in the past week.
They says this will add value to the crop’s value chain, and even boost earnings.