China excludes US soybean and pork from customs duties



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China announced Friday that it excludes US soybeans and pork, among other products, from tariffs imposed on imports of agricultural products.

This announcement was the latest evidence of a thaw in relations between countries as trade talks resumed next week.

Beijing said the decision was a reaction by the Trump government, which had been slow to impose additional tariffs on Chinese products.

"China has a huge market and the prospects for importing high quality US agricultural products are vast," the official Xinhuanet news agency reported on Friday. "China hopes that the United States will honor its commitment, advance its commitments and create favorable conditions for bilateral agricultural cooperation, said sources with the relevant Chinese departments."

Chinese companies reportedly bought more than 600,000 tons of US soybeans on Thursday, the country's largest purchase since June. The purchases were an apparent reversal of a Chinese Ministry of Commerce statement in August that it was ceasing all purchases of farm products in the United States. China is a major buyer of US agricultural products.

New trade talks were announced last week and both parties seem determined to create a better atmosphere for the next round. Trump announced on Wednesday that it would refrain from imposing an expected tariff increase of $ 250 billion in goods at 30% instead of 25%. Rates will take effect October 15, two weeks later than planned.

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