German cars, US steak are early trade casualties
China’s retaliatory tariffs on US goods struck just as one of its biggest meat importers was rushing a shipment from California through Shanghai customs. Now Suzhou Huadong Foods Ltd is saddled with a stack of unaffordable American steak.
Only three containers of frozen produce including prime rib and pork loin came through before the new levy slapped as much as 500,000 yuan (€64,000) on each of the remaining half-dozen crates, according to Gong Peng, the importer’s general manager.
