China exempts US soybeans and pork from tariffs

China will exempt American soybeans and pork from its latest round of tariffs, in what appears to be another move to ease tensions between the countries as they prepare for a new round of trade talks.

Chinese state news agency Xinhua announced the policy change on Friday, saying “there are broad prospects for importing high-quality agricultural products from the United States.”

American soybean farmers have been hit particularly hard by the trade war. China was their biggest market before Beijing responded to US tariffs by imposing taxes on soybeans from the United States.

There are signs that tensions are cooling ahead of talks that are expected to take place in early October.

China announced Wednesday that it would waive tariffs on some US goods. US President Donald Trump followed with plans of his own to push back new tariffs on Chinese goods by two weeks.

“We hope that the United States is as good as its words and will fulfill its promises, in order to create favorable conditions for cooperation in the agricultural field,” Xinhua said on Friday.

This is a developing story…