Report of China green and black tea exports and tea imports into US for January - November 2020
The most recent data from the China Tea Marketing Association and the US Census Bureau was recently published regarding China exports and US imports of tea in November.
HIGHLIGHTS INCLUDE:
HIGHLIGHTS INCLUDE:
It is worth noting that the percentage of decline in Chinese tea imports is noticeably greater than declines in US imports of overall global totals
Some of the major contributors to decline include:
1. Tariff- US-Sino Trade War raised tariffs on tea and other goods from China. The tariff rate on tea went from 0% to 15%, then a Phase One Agreement reduced the rate to 7.5% effective Valentines Day 2020.
2. Covid global pandemic
3. Shipageddon effects that began to be felt in October.