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China says US soybeans, pork to be exempt from tariff hikes

Business
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BEIJING (AP) — A Chinese state news agency says U.S. soybeans, pork and some other farm products will be exempt from tariff hikes in a possible goodwill gesture ahead of trade negotiations next month.

The official Xinhua News Agency announced the step Friday, citing unidentified official sources, but gave no details.

Soybeans are the biggest U.S. export to China but purchases stopped after President Donald Trump hiked tariffs on Chinese imports in a fight over trade and technology.

The two sides are preparing for talks in Washington but economists say they expect no final deal this year due to the scale of disagreements between the two sides.

Trump announced this week he would postpone a planned increase in tariffs on Chinese goods as a goodwill gesture ahead of the talks.

Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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