China's Signing of RCEP to Have 'Minor Impact' on US Ag Exports, USDA Says
China's implementation of the Regional Comprehensive Economic Partnership agreement likely will have a “minor impact” on U.S. agricultural exports to China in the “near future,” the U.S. Department of Agriculture Foreign Agricultural Service reported Dec. 23. For goods that receive…
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
preferential treatment under RCEP, such as soybeans, “no Asia-Pacific economies compete with the” U.S. exports to China, FAS said. In addition, FAS said other products such as corn, wheat, rice and cotton fall under China’s tariff-rate quota regime, which “supersedes any RCEP tariff reductions.” FAS said RCEP is also “unlikely to change” China’s agricultural trade in the Asia-Pacific region, mostly because China has already secured bilateral trade deals with major trading partners such as New Zealand, Australia, South Korea and the members states of the Association of Southeast Asian Nations. Also, the USDA earlier this month said it doesn't expect RCEP to heavily impact U.S. agricultural exports to Thailand (see 2012040022).