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.”
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.”
Read the full article on timesofcbd.com.