Connect with us

Legal & Regulation

U.S. Hemp Industry Should Not Be Affected by Chinese Tariffs Per Economist and Trade Experts



U.S. Hemp Industry Should Not Be Affected by Chinese Tariffs Per Economist and Trade Experts

Chinese tariffs are impacting retailers selling consumer goods, but it does not appear that medical marijuana sales are feeling its effects, according to a recent report by Hemp Industry Daily.

The reason is that hemp trade from the United States to China is virtually non-existent, according to Brian Cheng, a general partner at Arcview Group in San Francisco. He shared with Hemp Industry Daily “While hemp seeds are true hemp products (hemp biomass) are on the list of products affected by the tariff, neither account for a signature amount.”

Interestingly enough, even though hemp is hardly exported from the United States to China, Hemp Industry Daily also reports that China sent $3.3 million worth of hemp to the United States in 2017, coming right after Canada, which exported $58 million.

Cheng added,

“There is no cannabinoid market in China, so the hemp farmers and businesses serving the cannabinoid market (in the U.S.) have no business export to China. The industrial usage of hemp is satisfied by domestic production of hemp in China. Thus, the tariffs will have no effect on U.S. hemp producers and businesses.”

Further, Bob Hoban of the Hoban Law Group, also shared with Hemp Industry Daily that the tariffs imposed by the United States on China as beneficial to U.S. hemp farmers, stating “I see the tariffs that have been imposed as it relates to China as a very beneficial thing for U.S. hemp farmers, or at least for U.S. farmers that would like to pivot to industrial hemp.”

All information is for general informational and educational purposes only. Nothing should be interpreted as legal or wellness advice.

Jane is a regular contributor who learned about the great benefits of CBD a few years ago after starting it herself. Impressed by its effects, she's interested in helping others learn about options that can be helpful for them.

Continue Reading

Ultimate CBD Guide


ultimate-cbd-products-company-guidepopular-cbd-health-benefits best-cannabidiol-guide-resources hemp guide

TimesofCBD is the most active daily CBD news publication featuring the latest cannabis industry stories and marijuana market trends. As the leader in CBD-centric content curation, we invite all readers to come for the headlines and stay for the insights. Quality is the top priority when presenting user guides, analyzing product reviews and reporting fact-checked news announcements. All information is for educational and informational purposes only. Disclaimer.

Got news? Email

Copyright © 2020 | Latest CBD News, Cannabis Guides and Marijuana Trends
Note: Always seek real additional medical advice and consultation with a professional healthcare practitioner before considering any CBD. No statements found on this website have underwent Food and Drug Administration evaluation. The efficacy of any products or claims made have never been approved by the FDA either. No products shall ever be intended to diagnose, treat or cure any disease or prevent any ailment.