US pork exports to China are already up 47% in volume terms from January to September, even with high duties in place. FMTNews China US Tariff
BEIJING: China said on Friday it will waive import tariffs for some soybeans and pork shipments from the United States, as the two sides try to thrash out an agreement to defuse their protracted trade war.
A deal had initially been expected last month, but the two sides are said to be still seeking agreement on major issues such as which tariffs to roll back and the size of US farm purchases China is willing to make. Beijing’s levies on US soybeans initially brought its purchases of the US’ most valuable farm export to a virtual halt, although it has offered waivers to buyers in recent months.“December arrivals are already pretty high and then we’re getting into the Brazil crop,” said Darin Friedrichs, senior Asia commodity analyst at INTL FC Stone.Exemptions for pork are likely to be in higher demand, with less than two months until China’s Lunar New Year holiday, the country’s peak consumption period.
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