国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / China US trade tensions

US ginseng industry hurt in ongoing US-China trade frictions

Xinhua | Updated: 2018-08-16 17:27
Share
Share - WeChat
Wisconsinites have sold wild ginseng to China for hundreds of years. [Photo provided to China Daily]

WASHINGTON - Joe Heil has grown ginseng for more than 20 years. His Wisconsin-based farm with 50-acre ginseng was lucrative. Recently, however, the fear of loss looms large in his mind.

As the US-ignited trade frictions with China escalate, some customers who have expressed interest in purchasing Wisconsin ginseng have backed off. "They're scared about what the tariffs are going to do to their margins," the 46-year-old grower told Xinhua.

Due to good soil and weather, Wisconsin is well-known for its high-quality ginseng, which accounts for over 90 percent of the total cultivated ginseng output of the United States.

Most of US ginseng products are exported to Asian countries, where ginseng root, usually consumed in beverages or soups, is believed to be good to health. Dubbed "king of herbs," ginseng is also believed to contain high medical value in traditional Chinese medicine.

As a countermeasure against the US unilateral move to slap massive tariffs on Chinese imports, China in early April suspended tariff concessions on 128 items of US products and started to impose a tariff of 15 percent on 120 items, including ginseng.

Since the start of the year, the United States has been wielding the stick of tariffs against its trading partners worldwide. The moves have triggered tit-for-tat retaliations from countries affected, and are expected to drag down global growth by 0.5 percent, according to the International Monetary Fund.

The newly added tariff disturbed Heil's ginseng business. "I can't afford to absorb it (the tariff) myself," he said. "It's not lucrative enough."

About 80 percent of Heil's products are purchased by Chinese. Among others are Malaysian, Japanese and Singaporean buyers.

Heil has traveled to China several times over past years. With "some partnerships and friends" in China, he can export his ginseng products directly to China, his most important market, without "people in the middle."

Now, however, "we have to look at some alternative places to ship our product," Heil said.

Nevertheless, Heil did not plan to cut production. "Once we plant the seed, it takes four years before we have anything to harvest," he said. "It's really tough to predict what's going to happen in four years."

"It's really tough to start messing with the acres I grow, because that's a trickle effect that affects everything for a long time," he added.

Tongrentang, a Beijing-based pharmaceutical company, is another victim of the 15-percent tariff.

The key buyer of Wisconsin ginseng and largest producer of traditional Chinese medicine has had its own ginseng garden in Wisconsin since 2017. It thus directly provides ginseng root products to China, a cost-saving way to meet the increasing demand there.

The ginseng industry is not the only one hurt in the trade frictions, said Li Nan, deputy general manager of the US branch of Tongrentang. Soy bean and corn growers also suffer serious losses, with agriculture-related businesses like farmland equipment and pesticide too among the victims.

"It hurts everybody," Heil said. "I'm hoping that we can figure it out."

Top
BACK TO THE TOP
English
Copyright 1994 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
马鞍山市| 广南县| 辛集市| 灵丘县| 双江| 景洪市| 渝北区| 洛宁县| 三门县| 宜兰市| 雷州市| 平阳县| 兰州市| 滨州市| 藁城市| 廉江市| 北宁市| 波密县| 莱芜市| 宕昌县| 井冈山市| 景宁| 普定县| 龙南县| 雷山县| 本溪市| 泌阳县| 西盟| 安福县| 华亭县| 赣榆县| 蒲江县| 山阴县| 新郑市| 称多县| 阜新市| 五莲县| 简阳市| 耿马| 万载县| 盐边县|