Palm Oil Industry Stands to Benefit From U.S.-China Trade War

Apindo chairman Hariyadi Sukamdani said that there are several gaps that Indonesian entrepreneurs can capitalize on from the trade war. The gap is through the commodity of crude palm oil. This is because at present, China is one of the countries which has a significant need for American vegetable oil. "The trade war will change China's policy regarding the import of American vegetable oil," he said. They will look for another country which can meet the vegetable oil needs of the Bamboo Curtain Country. China's attempts are reflected by the 500-thousand-ton increase in CPO imports, which was agreed upon when Prime Minister Li Keqiang met with President Jokowi recently. For information, the administration of US President Donald Trump has officially enforced a new high tariff on imported products from China worth US$50 billion, Friday (6/15/2018). In the first part, a 25% tariff was levied on 818 Chinese products worth US$34 billion, starting on July 6.     Link: http://www.industry.co.id/read/36156/industri-sawit-bisa-ambil-keuntungan-dari-perang-dagang-as-china