China to grant tariff exemptions on 696 U.S. goods to support purchases

The coronavirus epidemic that emerged late last year in China has raised concerns about its ability to meet the purchasing targets, however. Authorities throughout the country imposed major restriction on travel and transportation to curb the spread of the virus, which has killed nearly 1,900 and infected more than 70,000 in the country.

White House adviser Larry Kudlow said earlier this month that Chinese President Xi Jinping told U.S. President Donald Trump during a recent call that China will still meet its Phase 1 trade deal purchasing targets. “Unless the state forcefully asks firms to apply for tariff exemption and buy U.S. soybeans, crushers would still go for Brazilian beans, based on market free will,” said a trader, adding that Brazilian beans are of good quality and price this year.

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