| The following GAIN reports were released on May 14, 2025. _______
The Guangdong-Hong Kong-Macao Greater Bay Area (GBA) is a Chinese government initiative that aims to link nine cities in Guangdong (Guangzhou, Shenzhen, Zhuhai, Foshan, Dongguan, Zhongshan, Jiangmen, Huizhou, Zhaoqing) with two Special Administrative Regions (Hong Kong, Macao) to drive economic activity, innovation, and integration with the goal of turning the region into a world-class business hub by 2035. This report focuses on the impact the initiative on agricultural exports to the region. On May 12, the United States and the People's Republic of China jointly announced a reduction of Chinese tariffs related to the series of original tariff announcements dated April 4, April 9, and April 11 that had increased rates by 125 percent on top of existing tariffs and retaliatory tariffs. The rates associated with these State Council Tariff Commission Announcements 4, 5, and 6 will now be 10 percent. The retaliatory tariffs of 10-15 percent on U.S. agricultural products that were imposed by China on March 10 in retaliation for U.S fentanyl tariffs remain in place. In addition, though the May 12 announcement indicated several non-tariff actions since April 4 would be addressed, questions remain on other non-tariff measures that occurred around the same time. This report provides the English version of the joint statement and a table containing up-to-date tariffs applied to U.S. agricultural, fishery, and forestry products as an attachment. FAS/San José projects marketing year 2025/2026 coffee production to decline by 10 percent as a result of the effects of the biennial coffee production cycle, after a high production year in 2024/2025. Other persistent challenges such as labor shortages, a relatively strong local currency, and changing weather patterns are also expected to affect production. The U.S. share of Costa Rican coffee exports declined in MY 2023/2024, while exports to the European Union increased. Upon request from Post, the Indonesian Quarantine Agency clarified in writing that the export timing and Prior Notice requirements take effect on June 4, 2025, via regulation 14/2024 and provided additional clarifications on the regulation. Notably, the cutoff date refers to the shipment's departure date as stated on the Bill of Lading. In addition, the Indonesian Quarantine Agency clarified the export timing requirement is different than previously reported, without resolving the fundamental concerns. This report provides additional guidance to help industry prepare for implementation of the regulation while FAS Jakarta seeks an extension and long-term solution. In addition, it provides confirmation of previously provided guidance regarding Prior Notice submissions for genetically engineered products. For more information, or for an archive of all FAS GAIN reports, please visit gain.fas.usda.gov/. | 
No comments:
Post a Comment