China on Friday confirmed that it will waive import tariffs for some soybeans and pork shipments from the United States as the two sides try to thrash out a broader agreement to defuse their protracted trade war.
The tariff waivers were based on applications by individual companies, the finance ministry said in a statement, citing a decision by the country's Cabinet without specifying the quantities involved.
Several industry sources in the United States and China interpreted the announcement as official confirmation of duty exemptions on up to 10 million tons of soybeans and an unknown volume of pork sources said were offered to importers earlier this year.