China cancels US pork shipments after tariffs raise prices

Tariffs are starting to hit American meat exports, with China making its biggest cancellation of pork orders since 2020, according to Thursday data from the US Department of Agriculture.

The cancellation of 12,000 metric tons of US pork was the most since the Covid-19 pandemic roiled global supply chains. For the week, overall US pork export sales fell to the lowest level since October.

China’s retaliatory duties against President Donald Trump’s tariffs on imports from the Asian nation mean American pork imports now face a whopping 172% tariff, including levies from the first trade war in 2018, according to the US Meat Export Federation.

US pork was already expected to lose ground in China as the world’s biggest importer started welcoming more supplies from countries such as Brazil.

Lean hog futures declined by as much as 1.6% in Chicago, before trimming losses.