China working on tax exemptions for U.S. soybean, pork imports

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

U.S. soybeans [File Photo: VCG]

The commission will dedicate a range of goods to be excluded from tariff countermeasures against the U.S. Section 301 measure, 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 exemption on the basis of independent negotiation, import as they see fit, and bear the related profits or losses, the commission said.