A U.S. soybean company displays its products in a booth at a 2018 international soybean exhibition in Shanghai. China announced Wednesday that it will continue tariffs on soybeans and some other farm products. BEIJING — China announced Wednesday that it will exempt American industrial grease and some other imports from tariff increases in a trade war with Washington but kept in place penalties on soybeans and other major U.S. exports ahead of negotiations next month. The move applies to raw materials for farmers and factories, suggesting Beijing wants to limit damage to its slowing economy from the fight with President Donald Trump over trade and technology. On Wednesday evening, Trump announced that the U.S. has agreed to a two-week delay in a planned increase in tariffs on some Chinese imports, calling it “a gesture of good will.” In a tweet, Trump said Chinese Vice Premier Liu He requested the delay “due to the fact that the People’s Republic of China will be celebrating their 70th Anniversary … on October 1st.” The tariffs are now scheduled to rise Oct. 15. The ripple effect of the trade war widened earlier in the day when the Trump administration announced that it had drafted… Read full this story
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