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Market
Impact on Spain's pork exports to China by mid-2024
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Resolution / Starting Odds
Increase in exports • 33%
No significant change • 33%
Decrease in exports • 33%
Trade statistics from Spain's agricultural ministry or credible trade reports
Story
China Retaliates Against EU's 48% EV Tariffs with Pork Import Probe Starting June 17
Jun 20, 2024, 12:30 AM
China has initiated a retaliatory investigation into pork imports from the European Union following the EU's decision to impose provisional tariffs of up to 48% on Chinese electric vehicles (EVs). This move, starting June 17, is part of an escalating trade conflict between the two economic powers. The Chinese government’s probe into EU pork imports, which significantly impacts Spain's pig farmers who supplied 22% of China's imported pork worth 1.2 billion euros in 2023, is seen as a direct response to the EU's actions aimed at protecting its domestic car industry from perceived unfair competition. German Deputy Chancellor Robert Habeck is visiting China amid these tensions, emphasizing the complexity of the relationship and the need for dialogue. The trade dispute also threatens to affect broader economic and environmental cooperation between China and the EU, as both sides have significant interests in green technology and decarbonization efforts.
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