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Navigating the Trump Tariff Turbulence: A Comprehensive Timeline
US President Donald Trump and his administration have paused reciprocal tariffs on most countries.
“Based on the lack of respect that China has shown... I am hereby raising the [tariff] charged to China by the [USA] to 125%, effective immediately,” wrote Trump on Truth Social at 1:18 pm ET.
It’s not clear if this 125% is in addition to the 20% imposed on Chinese imports to the US. In early March, Trump noted that he would add another 10% tariff on Chinese goods...
Consumer Spending Fuels South Korea's HoReCa Sector
According to USDA Foreign Agricultural Service (FAS) data, based on the latest available official statistics, South Korea's foodservice sector was worth around USD 146.7 billion in 2023, up 8.3% compared to the previous year.
Consumer spending on eating out is also increasing. In 2024, monthly per capita spending rose by more than 6% year on year and by over 17% compared with 2022. Dining out now accounts for nearly 15% of total household expenditure, while almost half of all spending on food and beverages goes to the HoReCa sector.
A changing HoReCa sector...
Australia’s Food and Wine Group Returns to South Korea
The Australian Food and Wine Collaboration Group will make its first return visit later this month when it heads to South Korea for its eighth Taste the Wonders of Australia campaign.
The Collaboration Group, which includes Meat and Livestock Australia, along with Hort Innovation, Dairy Australia, Wine Australia and Seafood Industry Australia, aims to deepen commercial relationships with key partners in trade, retail and foodservice, reinforcing South Korea as a priority export destination for Australia’s premium food and beverages.
South Korea is one of Australia’s most significant trade partners, with a population of more than 50 million and dense urban centres...
Vietnam’s THACO, U.S. Fresh Del Monte Sign 10-year Banana Supply Deal
U.S. food group Fresh Del Monte has signed a 10-year banana supply deal with the Vietnamese firm Truong Hai Group Corporation (THACO), the companies announced.
Fresh Del Monte has agreed to buy 71,500 tons of bananas in 2026, or around 15% of THACO’s expected output, the company said. Under the agreement, the traded volume would rise over the 10-year term.
Fresh Del Monte plans to export THACO Bananas to Hong Kong, Japan, South Korea, and later the Middle East, it said...
FEATURED STORIES
ANALYSIS: Total US Chicken Exports Mostly Flat in July, 0.8% Below Previous Year
ANALYSIS: Choice 0x1 Boneless Strips Stay Elevated as Buyers Shift Focus Away From Ribs
ANALYSIS: Korea's August 2026 Beef Imports Plunge Under Weight of Safeguard Tariff
ANALYSIS: US Pork Exports Ease in July Amid Mexico Restrictions and Increasing Competition in Korea
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