Photo: Eugene Hoshiko / AP
The Chinese authorities have allowed several local companies to purchase US cotton, corn, sorghum (cereal) and pork without paying the high import duties imposed by the country for American goods in the course of a trade war. About it writes Bloomberg.
In particular, several Chinese factories have received permission to purchase a total of 50 thousand tons of American cotton without paying a 25 percent duty. The same relief will be provided to some companies to import maize, sorghum, and pork. However, the source Agency did not specify what volumes of these products may be imported with high duties.
The decision followed the exemptions on the import into China of U.S. soybeans. As it became known on July 24, Chinese authorities allowed the five local companies to buy up to three million tons of soybeans in the United States and import them into China without paying excessive import duties. The Agency notes that this concession was a “goodwill gesture” on the part of Beijing on the eve of a new round of trade negotiations with Washington. Representatives of the American side is expected to arrive in China on Monday, 29 July.
China is the world’s leading importer of soybeans and pork, and a major buyer of corn. However, beginning in 2018 trade confrontation between China increased import duties on agricultural products from the United States and reduced purchases. Under the restrictions, in particular, were corn, sorghum, pork and soybeans.
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