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On December 21, 2023, the State Council Tariff Commission (SCTC) announced its annual tariff adjustment plan that sets tentative import and export tariff rates for select commodities in 2024.
This biannual report includes data on U.S. and global trade, production, consumption and stocks, as well as analysis of developments affecting world trade in dairy products.
Ample opportunities exist for U.S. agricultural exports to South Korea. Highlighted in the chart above, U.S. agricultural product exports were a record $9.5 billion in 2022, up 2 percent from 2021. South Korea is the sixth largest export market for the United States, thanks in part to a successful free trade agreement (KORUS) between the two countries and a robust demand for high-quality U.S. food products.
Although Indonesian dairy production is still reeling from the 2022 Foot and Mouth Disease (FMD) outbreak, imports of dairy ingredients are expected to decline in 2023.
Health Canada opened pre-consultations on a proposed new regulatory framework for foods for special dietary use and infant foods, which include categories such as infant formula, prepackaged human milk, medical foods, gluten-free foods, formulated...
This biannual report includes data on U.S. and global trade, production, consumption and stocks, as well as analysis of developments affecting world trade in dairy products.