UNITED STATES and CHINA - Last Friday saw something of a domino effect as both the U.S. and Chinese parties stood by previous declarations for round two of their respective tariffs. Unfortunately, more produce items have been caught in the eye of the storm, continuing to target popular items and even reaching the more premium corners of our industry.
The circle of Chinese tariffs now encompassing U.S. fruits and vegetables include:
- Avocados
- Mushrooms
- Truffles
- Cherries
- Apples
- Farming potatoes
To see a list of these items and more by categories affected between the two opposing sides, click here.
CNBC previously reported that the Chinese State Council's commission on tariffs and customs said in an online statement that a 25 percent tariff would take effect July 6 on agriculture products, automobiles, and "aquatic products," countering the United States Trade Representative's announcement earlier that day that the U.S. would initially impose an additional 25 percent tariff on 818 Chinese imports worth about $34 billion on July 6.
Both sides held to those statements, leaving those in the supply chain to determine whether to absorb the additional cost or to add it to the end pricing, as well as looking to consumer demand to help balance the scales.
For those of us who might have a taste for a little liquid courage to see us through this current standoff, I am sad to report whiskey has also made the list. It is early yet, however, and with operators and shoppers alike hoping for a quick resolution, AndNowUKnow will continue to follow this story for the latest.
