Detail

China (Mainland)

Oilseeds, oils and meals

Selected oilseeds, oils and meals

18/09/2018

Trade

Trade dispute

Implemented, effective 24 September 2018, retaliatory tariffs of 10 percent on selected, weakly traded oilseeds, vegetable oils/meals and fish oil/meal imported from the Unite States, plus rates of 5 percent on a number of other oilseeds, vegetable oils and meals of animal origin. The measure follows the earlier introduction of a 25 percent tariff on soybean imports from the US.

After both sides imposed special tariffs on each other’s exports worth USD 50 billion in the July–August period (see MPPU Aug.’18), on 24 September, following fresh failures in bilateral talks, the two countries introduced additional tariffs. In the new round of trade measures, the United States introduced import tariffs of 10 percent on Chinese products worth USD 200 billion, adding that the rate could be raised to 25 percent on 1 January 2019. Affected commodities include a number of oilcrops and oilmeals, imports of which, however, have been negligible in recent years. At the same time, China introduced new tariffs on U.S. products worth USD 60 billion. For the oilcrops complex, China’s additional tariffs amount to 10 percent for certain oilseeds (excluding soybeans, which had been targeted in the earlier round), vegetable oils/meals and fishoil/meal, and 5 percent for a number of other oilseeds, vegetable oils, and meals of animal origin. Again, in the recent past, China only imported small quantities of the earmarked oilseed products from the United States.