The Chinese government has plans to impose an additional 25% tariff on various imports of milk, cream, yogurt, whey, butter and cheese products beginning July 6, according to the International Dairy Foods Association (IDFA). The tariff will be on top of current tariff rates, which range from six to 20%, according to the story.
Why the increased tariff from the America's third largest importer of dairy foods?
Earlier this month, the Office of the U.S. Trade Representative (USTR) released plans to impose tariffs on two lists of Chinese products, one list which included products that would be subject to a 25% tariff beginning July 6, and included dairy machinery and parts, according to IDFA.
How all of these changes may affect cheese prices back home, we'll have to wait and see.