International Agricultural Trade Report

Record U.S. FY 2022 Agricultural Exports to China

U.S. agricultural exports to China in fiscal year (FY) 2022 were $36.4 billion and surpassed the previous year’s record with China as the largest export market for the second consecutive year. Significantly higher agricultural prices and resilient demand helped drive exports above the previous year’s record despite lower volumes for most products.
On December 29, 2022, the State Council Tariff Commission (SCTC) announced its annual tariff adjustment plan that sets tentative import and export tariff rates for select tariff lines in 2023. According to the 2023 tariff adjustment plan, the PRC will calculate MFN tariffs on certain frozen chicken products by applying a tariff on the import value rather than by volume (RMB/KG).