China to exclude pork, soybeans from additional tariffs on U.S. goods

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China to exclude pork, soybeans from additional tariffs on U.S. goods

China is looking to exclude soybean, pork, and other agricultural products from additional tariffs on U.S. goods as reported by Xinhua News Agency.

China had imposed 25% additional tariffs on U.S. agricultural products including pork and soybean in July last year. On Sept. 1, China increased tariffs on soybeans and pork by 5% and 10% respectively.

“It is hoped that the U.S. will be true to its words and fulfill its promise to create favorable conditions for cooperation in agricultural areas between the two countries,” the report remarked.

Before China announced the exemption on additional tariffs, Chinese firms purchased 10 boatloads of soybeans in the U.S. on Thursday.

The meeting between the U.S. Trade representatives and Chinese Vice Premier is slated next week in Washington to be followed by another negotiation in October.

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions
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