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China said to offer 10m tonnes of tariff-free quota for US soybean imports

ActionForex
By ActionForex

Reuters reported that China offered 10m tonnes of tariff-free quota for US soybean imports today. The quota is allocated to major Chinese and international soybean crushers at meeting called by the state planner.

This is seen as follow up actions, in-line with US President Donald Trump’s claim that China agreed to by USD 50B in farm products annually, after trade talks earlier this month. However, after that China has indeed bought at least 480k tones of Brazilian soybeans.

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