China adds some US farm products for additional tariff exemption
China will exclude some agricultural products such as soybeans and pork from additional tariffs on US goods, according to Xinhua on Friday.
China will support related enterprises to purchase agricultural products like soybeans and pork from the US, based on WTO regulations, and the Customs Tariff Commission of the State Council will exempt additional tariffs, Xinhua reported.
The Xinhua report cited officials from the Ministry of Commerce and the National Development and Reform Commission.
The US administration announced Wednesday a two-week delay of planned five percent tariff hikes on $250 billion worth of Chinese goods, which now come into effect Oct 15.
China has an enormous market, and it has a great potential to import premium agricultural products from the US, Xinhua reported.
China hopes the US will honor its pledges and create favorable conditions for collaboration between the agricultural industries in the two countries, Xinhua said.