ASA Discusses Increased USChina Agricultural Trade

first_imgAmerican Soybean Association (ASA) staff participated in an event sponsored by Informa and the U.S. Chamber of Commerce last week, where the two organizations jointly rolled out a new report entitled, Cultivating Opportunity: The Benefits of Increased U.S. China Agricultural Trade. The report highlights the benefits of two-way agricultural trade between the U.S. and China, which has reached $35.6 billion in 2015 and is expected to grow to over $71.2 billion from 2016-25. However, there are a variety of tariff and behind-the-border barriers that leave significant agricultural export opportunities unrealized. These include:China’s asynchronous and unpredictable approval process for agricultural biotechnology and discriminatory treatment for foreign animal vaccinesChina’s tariff-rate quotas for corn, rice, wheat and sugarSubsides for domestic machinery products in ChinaAnti-dumping and countervailing duties imposed by both countriesThe report indicates that resolving these and other barriers to trade could result in $28.1 billion in agricultural sector products over 2016-25. The study recommends the following policy reforms for China:Adherence to timely, predictable and science-based approaches for approvals of biotechnology and equitable treatment for foreign animal vaccines and importsImplementation of improved animal health management with veterinary pharmaceuticals and vaccinesIncrease transparency for existing TRQ allocations for commoditiesEliminate subsides for domestic farm machinery or making these subsides available to foreign brandslast_img

first_imgAmerican Soybean Association (ASA) staff participated in an event sponsored by Informa and the U.S. Chamber of Commerce last week, where the two organizations jointly rolled out a new report entitled, Cultivating Opportunity: The Benefits of Increased U.S. China Agricultural Trade. The report highlights the benefits of two-way agricultural trade between the U.S. and China, which has reached $35.6 billion in 2015 and is expected to grow to over $71.2 billion from 2016-25. However, there are a variety of tariff and behind-the-border barriers that leave significant agricultural export opportunities unrealized. These include:China’s asynchronous and unpredictable approval process for agricultural biotechnology and discriminatory treatment for foreign animal vaccinesChina’s tariff-rate quotas for corn, rice, wheat and sugarSubsides for domestic machinery products in ChinaAnti-dumping and countervailing duties imposed by both countriesThe report indicates that resolving these and other barriers to trade could result in $28.1 billion in agricultural sector products over 2016-25. The study recommends the following policy reforms for China:Adherence to timely, predictable and science-based approaches for approvals of biotechnology and equitable treatment for foreign animal vaccines and importsImplementation of improved animal health management with veterinary pharmaceuticals and vaccinesIncrease transparency for existing TRQ allocations for commoditiesEliminate subsides for domestic farm machinery or making these subsides available to foreign brandslast_img

Leave a Reply

Your email address will not be published. Required fields are marked *