China lowers tariffs on US farm imports, but keeps soybeans subject to additional 10% duty
New Delhi, Sept. 28 -- China has announced tariff cuts on a wide range of US agricultural products including corn, wheat and dairy items apart from meat, but has excluded soybeans, its largest US agricultural import, from the list released by the Chinese Commerce Ministry on Monday.
The move comes as China and the US have released parallel "30-for-30" product lists to consider tariff reductions and expand market access.
The Chinese list includes products such as sorghum, vegetable oils and meals, including soyoil and soymeal, as well as meat, dairy products and agricultural goods.
US soybeans will continue to face an additional 10 per cent tariff. Traders have said the tariff is too high for private soybean crushers to absorb, even as ...
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