The Chinese government announced this week that it would exempt pork, soybeans, and numerous other American agricultural products from trade war duties, a move that will likely boost agricultural exports from the U.S. to China.
China’s decision comes after the United States recently postponed additional tariffs on over $200 billion in Chinese imports.
Over the past year the Chinese government has slapped significant tariffs on United States exports, including pork and soybeans. Since April of last year, the tariff on U.S. soybeans has risen to 72 percent.
🔦 China’s decision, coming shortly after the United States’ delay of additional tariffs, suggests that a potentially ruinous trade war between the two countries could come to a relatively easy end.