The chief of one of China’s largest animal feed producers has explained how his industry would absorb the shock of a 25 percent tariff from the United States.
Liu Yonghao said China’s animal feed industry would diversify by importing their soybeans from Brazil, Russia, India and Argentina, rather than the US, and this wouldraise their domestic output and change the feed’s formula.
The reveal of this plan showed many middle-income countries could benefit from the large US agriculture industry being handicapped.