China to Lift Some Tariffs on US Soybeans, Pork
Move could take some heat out of talks aimed at agreeing on truce in trade war
China is planning to exempt some US soybeans and pork products from tariffs, a move that could take some heat out of talks aimed at agreeing on a truce in the trade war, reports CNN.
The country's finance ministry said Friday that it would waive taxes levied on some imports once companies had applied for exemptions. It did not specify which, or how many, goods would be exempted.
In 2018, exports of soybeans to China fell to $3.1 billion, down from $12.2 billion the year before.
Last week, China's Ministry of Commerce said that the country plans to import more than 3 million tons of pork this year — a 40% rise compared to last year.