Growth in pork exports from the European Union will slow significantly as Germany faces trade restrictions following a swine fever outbreak and Chinese demand contracts, the EU's executive forecast on Monday.
China's ban on imports from Germany, its third largest supplier, comes as the world's top meat buyer faces a pork shortage of its own caused by a massive decline in hog numbers due to African swine fever.
Germany's swine herd numbers are reaching near 20-year lows, resulting in a decline in pig feed demand. This causes challenges for the U.S. as it’s currently the top exporter of commodity soybeans to Germany.
Germany said any escalation of U.S. tariffs on metal imports into a full-blown trade war could cause tangible damage to the global recovery, although the tariffs themselves should have only a limited effect.