Moneymoney

Thu Jul 25, 2019, 12:03 PM

China Approves Tariff-Free U.S. Soybean Purchases as Goodwill

The Chinese government has given the go-ahead for five companies to buy up to 3 million tons of U.S. soybeans free of retaliatory import tariffs as trade negotiations between the two nations continue, according to people familiar with the situation.

The retaliatory tariff-free quota for 2 million to 3 million tons will be part of a goodwill gesture toward the U.S., and there could be a second round of exemptions depending on how the trade talks progress, two of the people said, declining to be identified as the information is private.

Among the companies is state-owned Jiusan Group as well as privately-run Shandong Bohi Industry Co. and China Sea (Zhonghai) Grain and Oil Industry Co., the people said. Yihai Kerry Group, a Chinese subsidiary of Singapore-based Wilmar International Ltd., and Hopefull Grain & Oil Group are also among the firms, said the people.

https://www.hellenicshippingnews.com/china-approves-tariff-free-u-s-soybean-purchases-as-goodwill/

The decision on the soybean purchases follows a meeting between the Chinese government and soybean buyers last Friday in Beijing to discuss the plan. After China adopted 25% tariffs on U.S. soybeans in July 2018, imports by the world’s biggest consumer had plummeted to almost zero toward the end of last year.
Source: Bloomberg

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Reply China Approves Tariff-Free U.S. Soybean Purchases as Goodwill (Original post)
uncledad Jul 2019 OP
RCW2014 Jul 2019 #1
uncledad Jul 2019 #2
Grumpy Pickle Jul 2019 #3

Response to uncledad (Original post)

Thu Jul 25, 2019, 01:00 PM

1. Yet the soybean futures are down nearly 1% after this news. Go figure... eom

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Response to RCW2014 (Reply #1)

Thu Jul 25, 2019, 02:40 PM

2. Like the cow that gives the sweetest milk

But keeps stepping in the bucket every Tuesday and Friday.

You can't stop milking her and there's only one place to put the bucket.

Old farmer I know told me that one.

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Response to uncledad (Original post)

Thu Jul 25, 2019, 07:24 PM

3. Good news.

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