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China cancels duties on American products

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China cancels duties on American products
July 26
09:00 2019

Referring to informed sources, Bloomberg reports that the PRC has allowed some companies to import corn, cotton and pork from America.

Textile factories have got the opportunity to buy cotton. A 25% tariff will not be charged.

Earlier, there was some news that five Chinese firms had received permission to import soybeans with a total volume of 3 million tons. According to Bloomberg’s analysts, such a gesture is a sign of favor before the upcoming negotiations. We recall that the talks are going to be devoted to the speedy resolution of the trade dispute.

US officials will come to China at the beginning of the week.

In May, China bought 60 thousand tons of cotton from the USA despite the duties! The import of sorghum and pork has greatly decreased. In April last year, the PRC bought more than 600,000 tons of sorghum in America. This year, the import has fallen to almost zero.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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