Today is 07/08/2020

China responds positively to US tariff exemption lists

China supports relevant enterprises to continue to purchase a certain amount of US farm products, including soybeans and pork, in line with the rules of the market and the World Trade Organization, official sources said Tuesday.

The Customs Tariff Commission of the State Council will continue to exclude the above agricultural products from the additional tariffs on US goods, according to sources with the National Development and Reform Commission and the Ministry of Commerce.

This came after the United States had recently released three lists on exempting additional tariffs on over 400 types of Chinese products.

China has a huge market, and the prospects for importing high-quality U.S. farm products are broad. China hopes the U.S. will continue to meet China halfway and create favorable conditions for bilateral cooperation in agriculture and other sectors, said sources with the relevant departments of China. (Xinhua)

According to Bloomberg, China has allowed several state-owned and private firms to import US soybeans without additional tariffs. The report said that new waivers will be about 2 to 3 million tonnes. Some importers bought at least 20 boatload of US soybeans on Monday, or about 1.20 mln tonnes.