American companies seek new markets due to tariff concerns
發佈日期: 2025-05-16 20:02
TVB News
Hofex, one of Asia's top food and wine trade shows, took place at the Hong Kong Convention and Exhibition Centre.
The expo featured over 2,000 exhibitors from more than 28 countries and regions, including American companies.
Amid a 90-day pause on most of the tariffs the U.S. and China imposed on each other, some American food producers say the situation remains uncertain, and they are actively diversifying their markets in a bid to lessen the impact of the trade war.
American dairy products, beef.
These American food items are imported to Hong Kong duty-free, but not to mainland China.
Beijing earlier imposed a 125 percent tariff on American goods in response to Washington's 145 percent tariff.
But recently, both sides agreed to slash tariffs for 90 days, which means American goods to the mainland China are now subject to a 10 percent levy.
So, is that good news for American exporters?
American Cheese Product Exhibitor Jesse Zhang said, "the cost for the tariffs made our cost almost a double. Due to the tariffs, we don't feel very secure about how the marketing goes. So right now we try to shift to countries around China. That could help us lower our risks on the tariffs that might happen in the future again. Right now we are trying to expand to other Asian countries, like Japan, Korea, Vietnam, Thailand, India, Malaysia and Singapore. They are our future markets."
A family-operated American wine producer said they are still interested in tapping into the China market.
American Wine Exhibitor Zoubeida Zajac said, "we have a lot of interests already. It is noon and we already have a good list. So there are a lot of promises. (Are you really going to trade with them?) We will see if we can."
The expo features food and wine from all over the world, such as European wine and liquor.
Some European exhibitors said Hong Kong is an important market where they can connect with the rest of the region.
In response to the trade war, Financial Secretary Paul Chan pledged Hong Kong will continue to be one of the freest economies in the world.
Financial Secretary Paul Chan said, "at a time, when some economies are raising trade barriers, Hong Kong is not just opening doors, we are opening more bottles too. If you are thinking of extending the reach of your products and services, Hong Kong is your showroom. Come to Hong Kong and you will find opportunities."
He said various organisations in Hong Kong will support foreign enterprises in setting up offices in the city.
The exhibition is held every two years. The organiser said there are more than 2,000 exhibitors this year, 400 more than the last session.
