Baiyang is relieved it made the call several years back to reduce its reliance on the US market in light of the new trade war.
Once accounting for 70 percent of its exports, the United States now holds a 30 percent share for the Chinese tilapia giant.
“We want to keep the market, but don’t want the risk of being too reliant on it,” Nancy Huang, executive deputy director or Baiyang’s food division operation center, told IntraFish.
The recent trade war between the United States and China has proven them right: current tariffs on Chinese tilapia – Baiyang’s biggest product – stand at 10 percent, but could go as high as 25 percent in the new year, said Huang.
