China partially eliminates duties on US agricultural products
China will lift some retaliatory tariffs on U.S. soybeans, corn, wheat, sorghum and poultry from November 10. It will also remove several U.S. firms from export control and “unreliable entities” lists, and ease restrictions on Illumina equipment. The move follows recent U.S. tariff relief measures aimed at easing trade tensions.
China has announced the partial removal of retaliatory tariffs on several US agricultural commodities, including soybeans, corn, wheat, sorghum, and poultry. The Ministry of Finance confirmed that duties imposed on March 4 will be lifted starting November 10. The decision is part of a broader trade pact between Beijing and Washington aimed at stabilizing relations between the world’s two largest economies after a period of escalating tensions.
At the same time, China’s Ministry of Commerce said it will remove 15 American firms from its export control list and take 10 others off the “unreliable entities” list. Beijing will also lift its ban on the import of DNA sequencing equipment from Illumina Inc. These steps follow US President Donald Trump’s executive orders to cut fentanyl-related levies on Chinese goods and extend tariff relief on certain Chinese exports.
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Source : Ukr Agro Consult
