China tells U.S. ‘Please Stop Sending Us Your Junk’
We know that for China has been America’s go to dumping ground for decades, but now, China has said that they plan to stop this.
For years, American scrap and waste was put on shipping containers and sent to China for recycling. However, this $5 billion annual business is now in great danger of falling apart.
The news come after Beijing had told the World Trade Organization(WTO) back in July that they are planning to ban the import of 24 varieties of solid waste. This includes certain types of plastic and unsorted paper, which is usually sent from the U.S.
In addition, China said that the recycling ban would take effect as early as September, which is giving American companies barely no time to prepare for the change. ISRI (Institute of Scrap Recycling Industries) estimate that around 1/5th of the trade is at risk.
“In the short term we’re going to see a significant drop of exports from the U.S. into China, and there is a little bit of panic in the market,” Adina Adler, an official at the U.S. Institute of Scrap Recycling Industries (ISRI) said.
“We respect what the Chinese government is trying to do … and we want to be helpful, but they gave us practically no time for any kind of transition,” Adina Adler added.
Scrap and waste is the sixth largest U.S. export to China, so this recycling ban by China is likely to put a strain on the US economy unless they can somehow fine somewhere else to do business for the same rates.
We will have to wait and see where it goes from here as this was a surprise move by China which has left the recycling companies in the United States with little to no time to prepare for the shift.