China to Grant Regular Tariff Waivers for U.S. Farm Imports
- Move comes after the two nations secure phase one trade deal
- China needs soybean and pork supplies to meet local shortage
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China will provide retaliatory tariff waivers to buyers of U.S. farm products on a more regular basis after the countries reached a phase one trade deal, according to people familiar with the situation.
Waivers had previously been given in tranches but they’ll now be handed out more frequently, said the people, who asked not to be identified as the matter is private. The move will make it less punitive for Chinese companies to purchase U.S. goods that are still subject to retaliatory trade tariffs and thereby help Beijing meet any commitments it has made as part of a trade deal.