Trade Relief: China Eases U.S. Tariffs Amid Ongoing Negotiations
China plans to suspend some retaliatory tariffs on U.S. imports after a meeting between leaders Xi Jinping and Donald Trump. While several agricultural duties will be lifted, a 13% tariff on U.S. soybeans remains, making Brazilian alternatives more appealing. Both nations aim to resolve ongoing trade tensions.
China announced on Wednesday that it will suspend certain retaliatory tariffs on U.S. imports, including up to 15% duties on agricultural goods, following a leaders' meeting last week. Despite this easing, U.S. soybeans still face a 13% tariff, which has led traders to favor cheaper Brazilian alternatives.
Efforts to resolve the ongoing trade tensions between the world's largest economies continue, with the White House claiming China will purchase significant quantities of U.S. soybeans. However, China has not confirmed these figures, leaving traders watchful for future large-scale deals.
Amid fluctuating trade conditions, China's trade negotiator Li Chenggang attributed disruptions to U.S. tariffs and called for improved cooperation. Additional tariff suspensions and removal of non-tariff measures highlight ongoing negotiations aimed at fostering a stable agricultural trade partnership.
Google News