Trump Trade Winds Blow Egypt Oranges to Shanghai Fruit Shops
Escalating global trade tensions are giving Chinese fruit stalls a little more of an international flavor.
Fruit distributor Sunmoon Food Co. is shipping navel oranges from Egypt, kiwis from Italy and apples from Poland into China for the first time ever. The produce will fill the gap created when the Asian nation slapped tariffs on U.S. fruit as part of the escalating trade war between the Xi Jinping and Donald Trump administrations.
With turnover of $45 million, Singapore-based Sunmoon is a minnow compared with fruit giants like Fresh Del Monte Produce Inc., which had revenue of $4.1 billion last year. But the new business it’s doing in China underscores how the tariff tit-for-tat between the world’s two biggest economies is reshaping global trade flows. China imported $6.2 billion worth of fresh and dried fruit and nuts last year, up nearly ten-fold from 2015, according to customs data.
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