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China to exempt US pork, soybeans from additional tariffs

13.09.2019 20:48 "Agro Perspectiva" (Kyiv) China will exempt some agricultural products from additional tariffs on US goods, in the latest sign of easing Sino-US tensions before a new rounds of talks aimed at curbing a bruising trade war, Reuters says referring to the Xinhua today report. It is to be admitted, the United States and China have both made conciliatory gestures, with China renewing purchases of US farm goods and US President Donald Trump delaying a tariff growth on certain Chinese goods. It is to be reminded, China had imposed additional tariffs of 25% on US agricultural products including soybeans and pork as of Jul 2018. It raised tariffs on soybeans by a further 5% and on pork by a further 10% as of Sept 1. «China supports relevant companies buying certain amounts of soybeans, pork and other agricultural products from today in accordance with market principles and WTO rules,» the report reads. Besides, Xinhua also admits the Customs Tariff Commission of the China State Council would exclude additional tariffs on those items. As to Xinhua, China is also expected to grow its purchases of soybeans, historically the most valuable US farm export which China has largely avoided buying since the trade war began last year. It is to be reminded, lower-level US and Chinese officials are expected to meet next week within Washington before talks between senior trade negotiators start this year early Oct. In meanwhile, as of this week, President Donald Trump said he preferred a comprehensive trade deal with China but did not rule out the possibility of an interim pact.

Agro Perspectiva

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