Since Trump took the initiative to set off trade wars between the United States and the world, the war without smoke has been affected by many industries, including the plant extract industry. Ginseng, dried beans and vegetables are on Trump's tax increase list. Pontiakos said in the latest corporate briefing that most plant ingredients are currently free of tariffs and that Trump is expected to impose or impose a 10% tariff on them.
On the other hand, some plant extracts and other related products have already been subject to customs duties, and the amount may be further enhanced. But it's hard to predict the end result, and it's hard to predict the exact time, so you might have to ask Trump for details.
Plant raw materials manufacturers in food and beverage, dietary supplements are also worried because dealers and distributors who buy raw materials in the United States will be shipped to China for processing and then shipped back to the United States, which may lead to delays. The pressure from both the US and China increased the intensity of customs inspections.
American-originated plant materials from BI Nutraceuticals are usually processed at factories in Reno, Nevada, and Long Island, New York. The company is keeping a close eye on the situation and says it will further communicate with its customers as the trade war creates more data changes.
It is understood that trade disputes over the past few months have attracted the attention of many industries in the food and beverage sector, as well as agriculture and supply chains. Following the initial $34 billion tariff, the second proposed list of tariffs has been released and is still awaiting public comment.
The American Tariff dispute is mainly aimed at China and aims to correct the so-called "violations related to technology transfer, intellectual property and innovation", claimed by the United States in the investigation. Meanwhile, China has submitted a complaint to the World Trade Organization (WTO) about Washington's list of tariffs on Chinese goods.
China is not the only country that has been pulled into trade war by the United States. The initial trade war was limited to President Trump's tariffs on steel and aluminum, but now the United States has launched a different trade war with several major allies, including Canada, Mexico and the European Union.
At present, all trades and professions are paying close attention to the latest development of trade war and hope that they can be resolved as soon as possible. However, it is not yet known how long the debate will last, and how many products and industries will be involved, because at present Trump has no signs of collecting hands, and there are no signs of sitting down and negotiating.
July 6, 2018
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