Trade disputes and the botanicals sector
Trade disputes and barriers around the world are forming a major point of discussion, with the food and nutrition industries impacted by several recent moves. At the beginning of August, it became official when the US imposed tariffs on US$34 billion worth of Chinese imports. After a series of retaliations, the latest is a proposal by the Trump Administration for an additional 10 percent duty on USS$200 billion worth of Chinese imports. There are a large number of botanical and botanical-derived ingredients listed in the proposal. Botanical extracts and other items, on the other hand, already have duties and this proposal will further raise them. George Pontiakos, President/CEO of BI Nutraceuticals believes that the tariffs are reasonable and do offer perspective.
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