China to lift import tariffs on limited agricultural products

On August 6, 2019, China had stated it would stop importing U.S. agricultural products. It now plans on lifting import restrictions on a limited number of items.

On Wednesday, China’s Ministry of Commerce stated, it plans on removing import tariffs on certain items including soybean oil, rapeseed oil and palm oil.

The statement is in contrast with its earlier statement wherein it stated, Chinese companies had stopped purchasing U.S. agriculture products in response to U.S. President Donald Trump’s slapping additional tariffs on $300 billion Chinese imports.

China has removed these commodities from a draft tariff quota management list posted on Ministry of Commerce’s website; this means they will not be subject to import tariffs, which are otherwise applied to other agricultural products such as rice, wheat, and corn.

The draft is open to public feedback upto August 22.



Categories: Creativity, Economy & Finance, Entrepreneurship, Geopolitics, HR & Organization, Regulations & Legal, Strategy

Tags: , , , , , , , , , , , , , , , , , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: