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China Approves Tariff-Free Soybean Purchases as Goodwill

Five buyers to be exempted from tariffs on 2M to 3M tons of beans

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According to a report at Bloomberg, the Chinese government has given the go-ahead for five companies to buy up to 3 million tons of U.S. soybeans free of retaliatory import tariffs as trade negotiations between the two nations continue, according to people familiar with the situation.

This development comes ahead of Monday's trade negotiations in Beijing between U.S. Treasury Secretary Mnuchin, Trade Representative Lighthizer and Chinese Vice-Premier Liu.

Read the full report here.

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