The Ministry of Finance of the PRC has published information regarding the trade conflict between official Beijing and Washington. It became known that the department had started to consider applications of local companies that applied for duty-free import of American agricultural products. It is primarily about pork and soybeans.
Chinese companies have already purchased a certain amount of goods that will cover the needs of the Celestial Empire. Official Beijing is not going to impose duties on these imports.
This is not China’s first step in easing the tax burden on US agricultural products.
By the way, representatives of the Ministry of Commerce of the PRC have reported that negotiations are proceeding as planned and close cooperation is going on.
The representatives of China have repeatedly emphasized that the agreement on the first stage of the trade transaction will necessarily contain clauses relating to the reduction of duties.
The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group