TradeScope visited the 2018 SIAL show in Paris in late October. When talking with US ingredient and finished goods producers, one thing was crystal clear: Chinese and European tariffs are disrupting sales and commodity prices.
SIAL is a core European trade show for the US dried fruit and nut sector. There were over 40 US producers and traders exhibiting at the show. In the past year, in retaliation for increased US tariffs on certain Chinese goods, the Chinese government imposed new tariffs on many dried fruit and nut products, which, not surprisingly, has yielded uncertainty and price fluctuations in the sector.
In addition, the EU has focused their retaliation on the following agricultural products:
Corn: 25% tariff Kidney beans: 25% Rice: 25% Peanut butter: 25% Orange juice: 25% Cranberries: 25% Whiskey and bourbon: 25% Vegetables Ketchup
All in all, it's an uncertain time for US food and beverage producers. Contact Ted Horton if you're a US food & beverage producer who'd like to know your best route into European markets in these difficult times.
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