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S Mn | Some APAC Countries
6/25/18, 11:14 PM
BEIJING--China will exempt soybean imports from certain Asia-Pacific countries from tariffs, the State Council announced Tuesday, along with other tariff cuts on a comprehensive list of goods.
Effective from July 1, China will slash tariffs on soybean imports from India, South Korea, Bangladesh, Laos and Sri Lanka to zero from 3%.
The list also covers chemical, agricultural, medical, apparel, steel and aluminum products, which are subject to various levels of tariff cuts.
China has been making extra effort to increase its soybean output this year, after it threatened to levy a 25% retaliatory tariff on soybean imports from the U.S. It has also been trying to diversify its sources of soybean imports from the likes of Brazil and Russia.
Edited by Since1889 6/25/2018 23:30
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China tariff changes announced what’s it mean for us
