China Tariff On US Soybeans "Regrettable", Says US Industry Body

Soybeans, the top US agricultural export to China, were among the 106 US products on which Beijing announced additional tariffs.

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China Tariff On US Soybeans 'Regrettable', Says US Industry Body

Soybeans pour into a converted consumer goods container for export to China (Reuters)


Beijing: 

China's decision to impose tariffs on imports of soybeans from the United States is 'regrettable' and 'won't solve the trade imbalance', the China director of the U.S. Soybean Export Council said on Wednesday.

Soybeans, the top U.S. agricultural export to China, were among the 106 U.S. products on which Beijing announced additional tariffs.

The move had been expected by the U.S. soybean industry, Zhang Xiaoping told Reuters, despite the organisation that represents American producers having done "everything" to prevent it.

China may still buy U.S. soybeans, despite the additional tariff, if the market needs supplies, added Zhang.

The date for the tariffs to take effect was not announced, but China's finance ministry said it was dependent on tariffs due to be adopted by President Donald Trump.

 
© Thomson Reuters 2018


(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)


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