China of­fers tar­iff-free quo­tas on US soy

The Korea Times - - WORLD BUSINESS -

BEI­JING/SIN­GA­PORE (Reuters) — Bei­jing on Tues­day of­fered major Chi­nese and in­ter­na­tional soy­bean pro­ces­sors waivers that would ex­empt the com­pa­nies from steep tar­iffs on im­ports of up to 10 million tons of U.S. soy­beans, ac­cord­ing to two peo­ple briefed on the mat­ter. The waivers, how­ever, failed to un­leash a flood of im­me­di­ate buy­ing on Tues­day as U.S. prices re­mained too high, ac­cord­ing to U.S. ex­port traders. Market con­di­tions have con­tin­ued to de­ter­mine Chi­nese buy­ing in re­cent weeks de­spite U.S. Pres­i­dent Don­ald Trump’s as­sur­ances of a wave of im­mi­nent sales.

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