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China Approves Tariff-Free U.S. Soybean Purchases as Goodwill

  • Five buyers to be exempted from tariffs on 2m-3m tons of beans
  • There could be more waivers, depending on the trade talks
Soybeans are harvested in Wyanet, Illinois.
Photographer: Daniel Acker/Bloomberg

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The Chinese government has given the go-ahead for five companies to buy up to 3 million tons of U.S. soybeans free of retaliatory import tariffs as trade negotiations between the two nations continue, according to people familiar with the situation.