China said it would cancel additional tariffs on imports of soybeans and pork that it intends to purchase from the US, in the latest of a series of goodwill gestures amid a trade war between the world’s two largest economies, said Reuters.
China has encouraged companies to buy “a certain quantity” of pork and soybeans from the US and they will be exempted from additional tariffs, state-run broadcaster CCTV reported, referring to duties imposed since the start of the trade war.
It did not state the amounts that will be purchased. Soybeans were the US’ second-largest export to China ahead of the trade war, with $12 billion sold to China in 2017. But exports plummeted last year as both sides raised tariffs on each others’ exports.