China Working On Tax Exemptions For U.S. Soybeans, Pork Imports

China is working on tax exemptions for part of the soybeans and pork imported from the United States, following applications submitted by related enterprises, the Customs Tariff Commission of the State Council said Friday.

 

The commission will decide on the range of goods to be excluded from tariff countermeasures against the U.S. Section 301 on tariffs, it said.

 

According to domestic needs, Chinese enterprises import a certain amount of goods from the United States through market-based procurement.

 

The enterprises are expected to purchase goods eligible for an exemption based on independent negotiation, import as they see fit, and bear the related profits or losses, the commission said.

 

Source: CGTN