According to an article by China Global Television Network, exports of Californian table grapes to China have dropped around 40 percent since China retaliated by imposing extra tariffs on US productions in mid-June. Local California growers estimated that the prices of table grapes have fallen as much as 40 percent from a year ago.
Trade tariffs may cost US table grapes exports $83 million, based on 3.2 percent of total production exported to affected markets, including the Chinese mainland, the Hong Kong special administrative region and others, according to a report from the University of California.
Typically, more than one-third of the Golden State's table grape production is exported, and shippers have been seeking new markets for the grapes.
The US Department of Agriculture announced the purchase of $48.2 million worth of grapes. However, industry sources said that the government's plan would be far short of covering the full amount of losses incurred by tariffs and lost export markets, especially when considering the long-term impact.