China calms trade war and removes import tariffs

China has reached out to the United States to appease the trade war. Import tariffs on American cotton, pork and grain, among other things, have been partially suspended. This informs various sources to Bloomberg news agency.

The 25% import tariff on American cotton has been abolished for a volume of at least 50.000 tons. This exemption also applies to pork, corn and sorghum, Bloomberg writes. It is unknown for these products which volumes are associated with this.

Exemption for soybeans
Recently, the Chinese government also exempted 3 million tons of US soybeans from import duties. By the trade war this trade flow came to a standstill completely, but in the meantime it has started again.

The Chinese guidelines are probably the result of US President Donaold Trump's consultations with his Chinese college Xi Jinping at the G20 summit in Japan. Negotiations between the two superpowers are at a standstill, but are reported to resume at the end of this month.

Wouter Job

Wouter Baan is Head of Meat & Dairy at BoerenbusinessAt DCA Market Intelligence, he focuses on dairy, pork, and meat markets. He also monitors (business) developments within agribusiness and interviews CEOs and policymakers.

w.baan@boerenbusiness. Nl

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