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In 2023, Hong Kong was the 17th-largest market for U.S. agricultural products globally. That same year, the United States exported $1.5 billion of agricultural products and was the third-largest supplier of consumer-oriented food products to Hong Kong after China and Australia.
Ample opportunities exist for U.S. agricultural exports to South Korea. Highlighted in the chart above, U.S. agricultural product exports were a record $9.5 billion in 2022, up 2 percent from 2021. South Korea is the sixth largest export market for the United States, thanks in part to a successful free trade agreement (KORUS) between the two countries and a robust demand for high-quality U.S. food products.
Japan has a well-developed food retail market that demands high-quality, high-value agricultural and food products. Despite reduced economic activity during the COVID-19 pandemic, trade data show that agricultural imports have remained resilient.
Japan’s National Tax Agency (NTA) proposed 9 new geographical indications (GIs) for alcoholic beverages from the United Kingdom. NTA will accept public comments on the proposal through January 16, 2023.
Plant-based diets and meat substitutes are gaining popularity and are capturing the interest of Thai consumers.
In 2019, Macau’s retail food sector sales rose 7.3 percent to US$613 million, a positive growth trend forecast to continue, especially in segments where U.S. products have strong prospects...
On February 18, 2020, China announced a new round of tariff exclusions for U.S. agricultural commodities impacted by the retaliatory Section 301-tariffs levied by China.
On February 6, 2020, the State Council Tariff Commission announced that China would cut in half the additional tariffs for certain commodities from the United States on February 14, 2020.
Agricultural trade with Taiwan is being impacted by new quarantine measures, port closures, vessel delays, and suspended flights as U.S. agribusiness exporters struggle to find available space....
Japan is the fourth largest market for U.S. exporters of food and agricultural products.
On August 30, 2019, Vietnam’s Ministry of Health (MOH) issued Circular 24/2019/TT-BYT regulating the management and use of food additives.
Singapore has a highly developed and competitive hotel, restaurant and institutional (HRI) industry that is fueled by robust tourism and consumer spending.