China to lift tariffs on US soybeans, pork amid trade war negotiations

The waiver comes amid negotiations between the United States and China to conclude a 'phase one' or interim deal to de-escalate a 17-month trade war between the two countries.

China will waive import tariffs for some soybeans and pork shipments from the United States, China's finance ministry said on Friday, citing a decision by the country's cabinet. The tariff waivers were based on applications by individual firms for U.S. soybeans and pork imports, the ministry said in a statement. It did not specify the quantities involved.

China imposed tariffs of 25% on both U.S. soybeans and pork in July 2018 as a countermeasure to tariffs levied by Washington over allegations that China steals and forces the transfer of American intellectual property to Chinese firms.

The waiver comes amid negotiations