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China Considers Boosting Purchases of U.S. Soybeans

Plan could include waiving retaliatory tariffs on U.S. imports

Cargo container

The Chinese government is in discussions with state and privately-owned soybean buyers over a plan to raise purchases of U.S. supplies, according to people familiar with the situation.

According to a report at Yahoo Finance, the government met with the companies on Friday in Beijing to discuss the plan, which could include waiving retaliatory tariffs on U.S. imports, said the people, who asked not to be identified as the information is private.

The government is seeking feedback from companies and the proposal is subject to change depending on progress in trade talks, the people said. Details including potential purchase volumes are yet to be finalized.

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