by admin | April 30, 2018 1:16 pm
The Smithfield Foods China deal has given a boost to the trade ties between the US and China. The two giants of the global economy have signed a deal for pork import to China from the US, enhancing the commercial relation between the two countries. Shuanghui International Holdings is the greatest meat processors in China, and the company will be importing pork from the US-based company. The $4.7 billion deal is yet to be cleared by the US authorities. This would also give a boost to the exports of the US-based company, Smithfield. This will also influence the pork prices in the US, according to the experts.
However, critics are also of the opinion, that importing pork from the US would call for a more stringent scrutinizing policy for health issues. The US is known to export quality products. However, it would be necessary to keep a check on the quality of these products. In 2011, Shuanghui was selling pork laced with a banned veterinary drug, known as clenbuterol. This may result in health issues in humans, when consumed. Executive director of Food & Water Watch, Wenonah Hauter, stated that problems on food safety on the factor farms may lead to health issues across the globe. Therefore, it is necessary to proceed, keeping the health factors in mind.
The undersecretary of Agriculture for Food Safety from 2005 to 2009, Richard Raymond, stated that they do not think that food safety is a concern, as the food safety-inspection service of USDA is still operational and health issues due to substandard quality food would not be an issue.
A senior partner and attorney in the mergers practice at McDermott Will & Emery, Tom Sauermilch, stated that the regulators will easily approve the Smithfield Foods China deal, provided that it does not become politicized. He says that food safety is not an issue of security for the nation, and the present agencies approve it.
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