Chinese soy importers on Monday bought at least five bulk cargo shipments of US soybeans, or about 300,000 tons, for shipment in January and February after Beijing offered the buyers at least 1 million tons in new tariff waivers, US exporters said, reported Reuters.
The fresh allotment of tariff waivers, which exempts importers from 30% tariffs on US shipments, comes after buyers used up nearly all of the 10 million tons in waivers awarded by Beijing in October.
China has imposed steep tariffs on US soybeans and other agricultural products in retaliation for US duties on Chinese goods during a 17-month trade war that has disrupted global grain flows, rattled markets and weighed on global economic growth.