BEIJING, CHINA — Chinese companies bought as much as 1 million tonnes of U.S. soybeans after the government issued more waivers from retaliatory import tariffs, Bloomberg reported, citing people familiar with the situation.
The state-owned and privately-run companies purchased 12 to 15 cargoes, mostly for shipment this year and a few for January, Bloomberg reported.
Chinese government officials have reportedly given waivers for another 2 million tonnes in purchases minus the tariffs, in addition to 2 million to 3 million tonnes exempted last week.
High-level U.S. and Chinese officials are scheduled to meet next week in Washington, D.C., U.S., to continue work in resolving the ongoing trade dispute between the two nations.
China raised import tariffs by 25% on U.S. soybeans in July 2018 in retaliation for U.S. duties on Chinese goods.