After the Asian market closed today, China’s Customs Tariff Commission announced it would exempt US soybeans and pork from the current tariff regime. The tariff waivers were based on applications by individual firms for US soybeans and pork imports and the exemption specifically applies to Chinese firms importing US soybeans and pork. But it did not specify the quantities involved. The announcement follows signals by US and Chinese negotiators that they may be drawing closer to agreeing on the first phase of a broader trade deal that would resolve the trade war between the two countries.
