Mixed prospects for the American chips industry

Published 2020년 7월 10일

Tridge summary

A new trade agreement with China, marking two decades of negotiations, has been welcomed by the potato sector, providing access for potato chips from the Pacific Northwest. Despite the Covid-19 pandemic's impact on exports, the international market presents opportunities for American potato growers. However, there are concerns over the increased import of frozen French fries from Europe. An 8% rate is currently applied to these imports, and experts suggest raising this rate to address the issue. The agreement's reasonable conditions and potential extension to other states are highlighted, with efforts underway to secure an agreement for the supply of ware potatoes to China.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Experts in the potato sector are happy with the new trade agreement with China, but are also concerned about the increased import of frozen French fries from Europe. Matt Lantz, vice chairman of Bryant Christie, recently explained the international trends in the potato market at the National Potato Council, which was held online this year. The export market for American potatoes continues to grow, and while the Covid-19 pandemic has led to a decline in exports, Lantz says the international market also offers the necessary bright spots for American potato growers. Lantz explained the trade agreement with China, which gave potato chips from the Pacific Northwest region access to the Chinese market. "The good news is that on February 25, 2020, after twenty years of negotiations, we entered into an agreement with China. The agreement officially entered into force on April 32." Lantz said that during the negotiations he regularly felt that no agreement would be reached and said that ...

Source: AGF