Recent trade tensions between the US and China have led to a noticeable decline in cocoa paste (HS Code: 1803.20) exports from the US to China, with shipments dropping by 15% in the last quarter due to increased tariffs.
2023-10-15
Impact: Negative impact on US exporters as Chinese buyers seek alternative suppliers from other countries.
China Imposes New Quality Standards on Cocoa Paste Imports
China has introduced stricter quality control measures for imported cocoa paste, affecting US exporters who must now comply with additional testing and certification requirements.
2023-09-05
Impact: Potential delays and increased costs for US exporters, possibly reducing competitiveness in the Chinese market.
US Cocoa Paste Finds New Markets Amid China Slowdown
With reduced demand from China due to economic slowdown and trade barriers, US cocoa paste exporters are diversifying to other Asian markets like South Korea and Japan.
2023-08-20
Impact: Mixed impact; while trade with China declines, new opportunities in other markets may offset losses.
Policy Updates
China Increases Tariff on US Cocoa Paste
China has raised tariffs on US cocoa paste (HS Code: 1803.20) by an additional 5% as part of retaliatory measures in the ongoing trade dispute, effective from October 1, 2023.
Date: 2023-10-01
US Announces Export Support for Cocoa Products
The US Department of Agriculture has introduced a support program to assist cocoa product exporters, including cocoa paste, in finding alternative markets amid trade challenges with China.
