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I don't see how this will affect prices here as we don't import pork from China. US pork exports to China may rise but I doubt it because of the ongoing trade war.
** Update **
I stand corrected. It seems that China may be backing off soybean and pork tariffs. US pork exports should rise then and that could affect domestic pricing.
Never mind, an updated report says that pork and soybeans are not going to be exempted. What a mess....