China to Waive Trade War Tariffs for Some U.S. Soy, Pork Purchases
China has started to process applications from some domestic companies to exempt their purchases of U.S. goods including soybeans and pork from retaliatory tariffs, China’s finance ministry said in a statement on Friday.
Chinese firms have purchased a certain amount of U.S. goods based on the country’s needs and the ministry is working to exempt tariffs resulting from the trade war on those goods, it said.
American and Chinese negotiators have signaled that they may be drawing closer to agreeing on phase one of a broader accord that would resolve the trade dispute. However, Trump has said that he wouldn’t mind if it takes until after the 2020 U.S. election and that a threatened Dec. 15 tariff increase will proceed if the talks fail to yield a deal he likes.
Bloomberg has previously reported that China issued these waivers to some domestic firms.
https://www.bloomberg.com/news/articles/2019-12-06/china-to-waive-trade-war-tariffs-for-some-u-s-soy-pork?srnd=premium
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