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China adds some U.S. farm products for additional tariff exemption

2019-09-16 www.cofeed.com
According to Xinhua news on Sept. 13, the Customs Tariff Commission of the State Council will exclude some agricultural products such as soybeans and pork from the additional tariffs on U.S. goods, official sources said Friday.

China supports domestic companies in purchasing a certain amount of U.S. farm produce in line with the rules of the market and the World Trade Organization, according to sources with the National Development and Reform Commission and the Ministry of Commerce.
The move came after the United States decided to make adjustments to the additional tariffs to be imposed on Chinese goods on Oct. 1.

China has a huge market, and the prospects for importing high-quality U.S. farm produce are broad. China hopes the United States will be true to its word, make progress on its commitments and create favorable conditions for bilateral agricultural cooperation, said sources with the relevant departments of China.

Besides, sources said that private firms from China bought over 600,000 tonnes of US soybeans last Thursday, with shipment from October to December and CNF China at 135/145X (X=Nov). It was the largest purchase made by Chinese private importers for more than a year.