… tariffs on soybeans fall to 27.5% from 30%, total duties on pork drop to 55% from 60% and those on beef do down to 30% from 35%...

 

 

How Chinese tariffs on U.S. imports will stand after February 14 cuts

 

Reporting by Chen Aizhu, Muyu Xu, Dominique Patton, Tom Daly, Shivani Singh and Hallie Gu; editing by Robert Birsel, Larry King and Pravin Char, Reuters 

February 6, 2020

 

BEIJING/SINGAPORE (Reuters) - China is preparing to halve the extra tariffs on U.S goods that went into effect last September, including on crude oil, soybeans, pork and beef.

 

The reductions, due to come into force at 1:01 p.m. local time (0501 GMT) on Feb. 14, are the first round of tariff cuts by China since the two countries signed a Phase 1 trade deal on Jan 15.

 

The halving applies only to the additional tariffs imposed by Beijing in September, and not to the total duties on goods built up since 2018 during the trade war.

 

It will see total tariffs on soybeans fall to 27.5% from 30%, total duties on pork drop to 55% from 60% and those on beef do down to 30% from 35%. Tariffs for U.S. crude oil, which was first targeted in September, will be reduced to 2.5% from 5%.

 

Below is a list and timeline showing how China’s tariffs on key U.S. commodities and energy items stand after the Phase 1 accord.

 

CRUDE OIL ... 

 

PROPANE  ... 

 

LIQUEFIED NATURAL GAS (LNG)  ... 

 

METHANOL, ETHYLENE GLYCOL (MEG)  ... 

 

SOYBEANS

 

The Chinese government has given tariff exemptions to some U.S. soybean imports. In 2019, China brought in 16.94 million tonnes of U.S. soybeans, edging up from 16.6 million tonnes in 2018, when shipments nearly halved from the previous year due to the trade dispute. The Chinese government has given tariff exemptions to some U.S. soybean imports.

 

PORK

 

An outbreak of African swine fever in China has decimated the world’s largest pig herd and sent domestic pork prices soaring to record levels. U.S. pork exports to China and Hong Kong were up 49% year-on-year in value at $1.18 billion from January to November 2019.

 

SCRAP METAL  ... 

 

RARE EARTHS  ... 

 

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https://www.reuters.com/article/us-usa-trade-china-commoditiestariffs-fa/how-chinese-tariffs-on-u-s-imports-will-stand-after-february-14-cuts-idUSKBN2001XF