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China tariff relief package excludes US soybeans, state buyers still key
The tariff package announced for Sept. 28 covers crops like wheat and corn, but a 10% retaliatory duty on US soybeans keeps private importer access limited.
World Grain reports that the American Soybean Association said it was disappointed that US soybeans were not included in China’s additional agricultural tariff relief announced after the US and China summits.
According to World Grain, the Sept. 28 package includes reciprocal tariff cuts for products such as wheat, corn, sorghum, vegetable oils and meals, including soy oil and soymeal, along with meat and dairy.
World Grain adds that China’s remaining 10% retaliatory duty on US soybeans limits access for private Chinese importers, so soybean trade is expected to continue being handled primarily by China’s state-owned enterprises.
World Grain also notes that the ASA was encouraged by China’s commitment to purchase a minimum of 25 million tonnes of US soybeans annually in 2026, 2027 and 2028.
Latest closeWheat $686.75 ▼2.4%|Corn $521.25 ▼1.3%|Soybeans $1,284.50 ▼2.6%