US hide exporters face China tariffs
07/08/2018
China has issued details of the retaliatory measures it intends to take following the threat from the US to impose tariffs on $200 billion worth of Chinese imports. China’s proposed retaliation targets $60 billion of goods it imports from the US.
In a statement it issued on August 3, USHSLA said that the majority of US cattle hides, wet blue cattle hides and salted pigskin exports to China are likely to face 5% tariffs, though some US hides and skins exports will be subject to a 25% rate.
It went on to say: “Trade disputes create casualties, not the economic growth that fuels businesses and economies. These retaliatory tariffs will disproportionately affect US hides and skins companies that regularly export more than 90% of total US production, and the hardworking producers, processors, brokers and dealers who make the US one of the top raw materials suppliers to the global leather manufacturing industry.”
In 2017, Chinese tanners imported more than $1 billion in US hide, skin and leather products, representing more than 50% of total US production. The Chinese market is not just important for the US industry, but is “essential to its survival”, USHSLA said.
It then urged China and the US to work diligently to resolve any differences before additional tariffs and market access barriers take effect.
China’s ministry of commerce issued a statement of its own, saying: “China has no option but to retaliate to safeguard the dignity of the country and the interests of its people, to defend free trade and protect the interests of all the countries of the world.”
It went on to say that it believes the US’s fundamental aim in levelling “unjustified accusations” against China is to “repress the peaceful development of China”.
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