Smithfield Foods says tariffs make China unviable market for its US pork

[Eugene]

Smithfield Foods says tariffs make China unviable market for its US pork (Reuters)

(Reuters) -China, the world's biggest pork consumer, is no longer a viable market for top U.S. pork processor Smithfield Foods due to retaliatory tariffs by Beijing, company executives said on Tuesday.

The sales disruption shows how the tariff war escalated by U.S. President Donald Trump is upending global trade and forcing changes at a prominent food company that pays U.S. farmers to raise hogs that are slaughtered for meat.

China increased its levies on imports of U.S. goods this month, hitting back at Trump's decision to single out the world's No. 2 economy for higher duties.

Beijing's additional tariffs pushed China's effective duty rate on U.S. pork to 172%, according to industry data.

https://finance.yahoo.com/news/smithfield-foods-posts-higher-sales-094802537.html

[tavernier]

1. Not exactly sure what this means.

All I know about Smithfield products are that they are briney and tasteless. So many far superior pork, ham and bacon products on the market.

[calguy]

2. Smithfield Foods is a Chinese-owned company.

[GusBob]

3. Curious as to how that would affect domestic supply and prices

Article indicates China is only 3% of their revenue, and I dont reckon Pig heads and innards have much use here

[Vinca]

4. When I went grocery shopping yesterday I noticed an abundance of affordably priced pork next to

the skimpy offering of overpriced beef. I just assumed it had something to do with the sudden glut of pork not being shipped to China.

[roamer65]

5. I bet the Chinese shut the company down.

If they do, it leaves a big hole in our food supply chain.