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Tuesday, July 10, 2018

China to reimburse state reserve buyers for added soybean import duty

China will reimburse importers for the cost of the 25% tariff on soybean imports from the U.S. if the cargoes are intended for state reserves, Bloomberg reported, citing unidentified sources.Meanwhile, three trade sources cited by Reuters say China has started clearing goods from the U.S. at its ports. Customs officers had initially delayed clearance of some U.S. goods as they awaited official instructions on whether to start collecting the new import tariffs.Those duties are now being collected and products moved through customs, including a soybean cargo that arrived just after the tariffs were implemented.