China buys more U.S. soybeans despite tariff threat

Date: 2020.05.08

Chinese buyers booked deals to purchase 378,000 tonnes of U.S. soybeans, the U.S. Agriculture Department said on Tuesday, even as the Trump administration considers new tariffs to punish China for the coronavirus outbreak.

Private exporters reported to the government that 136,000 tonnes of soybeans were for delivery in the 2019/2020 marketing year and 242,000 tonnes were for delivery in 2020/21.

China has stepped up its buying of U.S. agriculture commodities in recent weeks as it seeks to fulfill its obligations under the Phase 1 trade pact Washington and Beijing reached in January. The deals were a rare bright spot for the sector that has seen prices plunge due to the health pandemic and traders said Trump's recent rhetoric about China puts the purchases at risk.

Read more here.

Comment

You may also like

2019.06.13
390
ABSTRACT Reference prices at the farm level for several strategic commodities issued by the Ministry of Trade are generally higher than fair prices to obtain reasonable profits (20-30% of total farming cost). For maize, soybean, and sugar, the reference price is around 2.28%; 14.34%; and 13.40%...
2013.08.19
9,358
Agricultural Tariffication Act: Tariff in lieu of Quantitative Import Restriction[1] Albert P. Aquino, Jamaica Angelica P. Deriquito and Princess Alma B. Ani[2]   Commitment to the World Trade Organization – Uruguay Round Agreement The Philippines’ ratification of the General...
2016.08.26
4,686
INTRODUCTION Beginning with the FTA with Chile in 2002, Korea has signed 14 FTAs with 53 countries as of May 2016, and its proportion of FTA trade volume is expected to be over half the total trade volume. Some expect a large increase in regional exports if the FTAs are actively utilized, but...