China will cut tariffs on soybeans imported from the United States

Friday, 06 December 2019 00:00 Written by  font size decrease font size decrease font size increase font size increase font size

The Chinese Ministry of Finance announced this a few hours ago citing the decision of the cabinet.


The ministry said in a statement that the tariffs have changed based on requests from individual US soybean businesses.
The measures will be followed by China imposing a 25 percent tariff on US soybeans in July 2018, in a move that contradicts Washington's tariffs.
Commentators believe the Chinese are trying to implement the first phase of a temporary trade war agreement between the two countries.

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