China to exempt US soybeans and pork from tariffs
- Announcement comes just over a week before Washington is due to impose 15 per cent tariffs on US$160 billion of Chinese goods
- Two sides are still trying to agree an interim trade deal
China announced on Friday that it would exempt some US soybeans and pork from tariffs – attempting to inject some momentum into their ongoing trade talks.
Chinese companies have already “imported certain quantities of goods from the United States”, the statement said.
The US is set to impose 15 per cent tariffs on US$160 billion of Chinese imports on December 15.
At a press conference in Beijing on Thursday, Ministry of Commerce spokesman Gao Feng again said that if the two sides agreed an interim trade deal, “tariffs should be reduced accordingly”.
Beijing imposed tariffs of 25 per cent on US soybeans and pork in July 2018 after the US introduced punitive duties on Chinese products. Washington’s move was a response to accusations that American firms operating in China were being forced to hand over their technologies.