AreaChina (Mainland)

Commodity GroupOilseeds, oils and meals

CommodityAgricultural products, soybeans

Date01/02/2020

Policy CategoryTrade

Policy InstrumentComprehensive trade negotiations

DescriptionIn addition to the trade truce signed between China and the United States of America, in January 2020, the Chinese Government announced that, on 14 February, the tariffs that it had imposed on selected US goods in September 2019 would be reduced by half. The reduction also concerned oilcrops and derived products, whose tariff rates would be reduced by 5 percentage points, except for soybeans, whose tariffs would see a reduction of 2.5 percentage points. All other retaliatory tariffs – notably the 25 percent soybean tariff introduced in July 2018 – would remain in place.

NotesUNITED STATES / CHINA – bilateral trade measures (China): China’s State Council Tariff Commission announced that, on 14 February, the additional tariffs imposed on selected US goods last September (see MPPU Sep.’19) would be cut by half. The announcement, which came in addition to the trade truce agreed between the two countries in December (see MPPU Jan.’20), also concerns oilcrops and derived products, whose tariff rates would be reduced by 5 percentage points, except for soybeans, whose tariffs would see a reduction of 2.5 percentage points. All other retaliatory tariffs – notably the 25% soybean tariff introduced in July 2018 – would remain in force.