AreaChina (Mainland)
Commodity GroupOilseeds, oils and meals
CommoditySoybeans
Date01/05/2018
Policy CategoryTrade
Policy InstrumentImport policy - trade dispute
DescriptionInformed about plans to introduce retaliatory tariffs on selected imports from the United States, including soybeans.
NotesOn 4 April 2018, the Chinese Government published a provisional list of tariffs that, if implemented, would apply to selected agriculture and food imports from the United States including soybeans. The duties would be introduced in retaliation of possible US import tariffs concerning a number of Chinese products. China the worlds largest soybean buyer satisfies 90 percent of its soybean requirements through imports, with US beans accounting for more than one-third of its purchases. Considering the importance of soybean trade for both countries, Chinas announcement triggered temporary prices responses and shifts in buying patterns at the national and global level. The two countries are engaged in negotiations aimed at settling their trade dispute (which originated from a field unrelated to agricultural markets), in a bid to avert recourse to retaliatory tariff measures.
