In Missouri, Food Business News reported that a series of new levies and restrictions proposed by the Office of the US Trade Representative (USTR) on importers and exporters that use Chinese-made ships could deal a significant blow to US agriculture and transportation, according to an economic impact report commissioned by more than 30 industry groups.
The report stated that US wheat exports could decline by more than 60% and soybean exports by more than 40% if all the proposed actions were implemented.
The proposed penalties, intended to boost US shipbuilding, include fines of up to $1.5 million for each Chinese-made ship that enters a US port, up to $1 million per port call for Chinese operators and up to $1 million for operators with orders from Chinese shipyards, according to recent reporting by World-Grain.
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Category: Food & Agriculture
