‘Missed opportunity’: US soybean farmers question exclusion from China tariff cuts
US soybean farmers have described the exclusion of US soybeans from China’s import list under the newly announced Board of Trade mechanism as a “missed opportunity”, even as Beijing ramped up purchases of the crop ahead of last week’s summit between Chinese President Xi Jinping and US President Donald Trump. The trade forum, unveiled by both sides on Sunday, covered a range of US agricultural…
US soybean farmers have expressed disappointment over the exclusion of US soybeans from China’s list of agricultural products receiving tariff cuts, despite China's increased purchases of the crop ahead of recent high-level talks between Chinese President Xi Jinping and US President Donald Trump. The announcement of the non-sensitive goods covered by tariff reductions, which includes other US agricultural products such as meat, dairy, corn, wheat, sorghum, and vegetable oils, did not include soybeans, which currently face a 10 percent tariff in China.
The American Soybean Association, representing over 500,000 growers, stated that this exclusion was a missed opportunity for American farmers, as China's remaining 10 percent retaliatory duty limits access for private Chinese importers.
Brief written by urgent.news from Reuters Business via SCMP's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
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