China’s finance ministry has announced that it will waive import tariffs for some soybean and pork shipments from the United States, reports CNBC. The decision is said to have some from the country’s cabinet. The ministry said that the waivers would be based on applications on individual firms.
China imposed tariffs of 25% on both U.S. soybeans and pork in July 2018 as a countermeasure to tariffs levied by Washington over allegations that China steals and forces the transfer of American intellectual property to Chinese firms.
For more information, visit https://www.cnbc.com/2019/12/06/china-says-it-will-waive-import-tariffs-for-some-us-soybeans-and-pork.html.