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Source: US Department of Agriculture Foreign Agricultural Service

In June 2020, China’s central government announced its economic masterplan to develop the south China island of Hainan into a Free Trade Port (FTP). The advertised zero-tariffs for imported products processed inside the FTP may lead to future opportunities for imports of U.S. ag products, such as meat and seafood. However, for the time being, importers of U.S. ag products seem reluctant to pursue these opportunities until FTP policies, infrastructure, and logistical networks are all solidly in place and working.