China issues tariff-free quota for US soybean purchases

China yesterday issued major Chinese and international soybean crushers with tariff-free quota to import soybeans from the United States, according to three people briefed on a government meeting to discuss the issue.

The quota to import US soybeans was issued to stateowned crushers, privately owned crushers and major international trading houses with crushing plants in China, said two of the people. A total of 10 million tonnes was issued at the meeting, which was hosted by the state planner, said one of the sources.

The volume was also reported by trade publication AgriCensus earlier on Tuesday. The meeting comes after US President Donald Trump said China had agreed to buy up to $50 billion (£39 billion) of U.S. farm products annually during trade talks earlier this month.