China says to exempt ‘some’ US soybean, pork from tariffs

BEIJING: China said on Friday it would offer a tariff waiver to “some” imports of US soybean and pork, in the latest sign of easing trade tensions between Beijing and Washington.

China says to exempt ‘some’ US soybean, pork from tariffs

Donald Trump and Xi Jinping. File photo

rchopra@tribunemail.com

Beijing, December 6

China said on Friday it would offer a tariff waiver to “some” imports of US soybean and pork, in the latest sign of easing trade tensions between Beijing and Washington.

The world’s two biggest economies have exchanged blows for over a year, with tariffs now impacting hundreds of billions of dollars in two-way trade.

The olive branch comes at a time when the two sides are edging towards a partial deal that includes a promise to increase the purchase of US farm produce.

“The Customs Tariff Commission of the State Council is carrying out the exclusion of some soybeans, pork and other commodities based on applications from enterprises,” the finance ministry said on Friday in a statement.

Chinese companies have already “independently imported certain quantities of goods from the United States”, the statement said, without offering details.

Beijing has increased tariffs on US pork three times since the trade war started in March 2018, raising the total duty from 12 to 72 per cent as of September.

The tariff on soybeans has gone up from 3 to 33 per cent, after two rounds of tariffs--25 per cent in July 2018 and another 5 per cent in September.

China is the world’s biggest consumer of soybean and has been shopping elsewhere, such as Brazil, to boost supplies. AFP

Cities

View All

Ban on hookah bars goes up in smoke

Police, Excise officials seize hookahs from restaurants

Doctors complain of heavy workload at Civil Hospital

Say they perform additional duties due to shortage of medica...

Locust attacks reported from Bathinda villages

Agri Dept alert, constantly observing its movement, says ADO

Cops tighten noose around Chinese kite string sellers

The Chinese and zinc-coated thread is dangerous not only for...

Padma Shri for ‘Langar Baba’, PGI doc

Jagdish Lal feeding hungry for 20 yrs, sold property to run ...

Soon, 9,310 dark spots to illuminate

Work of installing LED lights to begin in month, contractor ...

Civic body staff say no to cheque, bills say otherwise

People visiting offices to pay bills by cheque a harried lot

Vendors can station carts at vending zone sites: Mayor

No fee for now, vendors identified during survey will be eli...

Stones of 2 foot overbridges laid

To come up at Gurdwara Dukhniwaran Sahib, Kali Mata Mandir

R-Day: Education Minister to hoist National Flag today

School principals, teachers told to remain present at venue

Man held for illegal mining in SYL canal

Caught red-handed, another suspect to be nabbed soon, say co...