China said on Friday it will waive import tariffs for some soybeans and pork shipments from the United States, as the two sides try to thrash out an agreement to defuse their protracted trade war.

The tariff waivers were based on applications by individual firms for US&nbsp;soybeans and pork imports, the finance ministry said in a statement, citing a decision by the country's cabinet. It did not specify the quantities involved.

China imposed tariffs of 25 per cent&nbsp;on both US&nbsp;soybeans and pork in July 2018 as a countermeasure to tariffs levied by Washington over allegations that China steals and forces the transfer of American intellectual property to Chinese firms.

The waiver comes amid negotiations between the United States and China to conclude a 'phase one' or interim deal to de-escalate a 17-month trade war that has roiled financial markets, disrupted supply chains and weighed on global economic growth.

A deal had initially been expected last month, but the two sides are said to be still seeking agreement on major issues such as which tariffs to roll back and the size of US&nbsp;farm purchases China is willing to make.

Though Trump struck an upbeat tone on progress in talks on Thursday, a new round of US&nbsp;tariffs covering about $156 billion of Chinese imports is set to kick in just over a week away on December&nbsp;15.

China's tariff waivers on key US&nbsp;agricultural products is a sign of its commitment to the deal, said an industry source who declined to be identified because of the sensitivity of the matter.

Beijing's levies on US&nbsp;soybeans initially brought its purchases of the US' most valuable farm export to a virtual halt, although it has offered waivers to buyers in recent months.

Those waivers are said to have expired, although new exemptions may come too late, said an analyst.

"December arrivals are already pretty high and then we're getting into the Brazil crop," said Darin Friedrichs, senior Asia commodity analyst at INTL FC Stone.

"There's limited space to buy new US&nbsp;soybeans at this point."

Exemptions for pork are likely to be in higher demand, with less than two months until China's Lunar New Year holiday, the country's peak consumption period.

China has been scouring the world for more meat to fill a big shortage of protein after an outbreak of African swine fever devastated its massive hog herd, cutting supplies of pork.

US pork exports to China and Hong Kong are already up 47 per cent&nbsp;in volume terms from January to September, even with high duties in place.

An adviser to the Chinese government said exemptions on the products suited Beijing, as they helped meet market demand for such goods while reducing the trade surplus with the United States.

"We might as well buy soybeans from the US&nbsp;rather than from Brazil. Brazil is actually selling us what was purchased from the United States and they even hiked the prices up before selling to us. In that case, we'd better just buy from the United States," she said.

China said on Friday it will waive import tariffs for some soybeans and pork shipments from the United States, as the two sides try to thrash out an agreement to defuse their protracted trade war.

China said on Friday it will waive import tariffs for some soybeans and pork shipments from the United States, as the two sides try to thrash out an agreement to defuse their protracted trade war. The tariff waivers were based on applications by individual firms for US soybeans and pork imports, the finance ministry said in a statement, citing a decision by the country's cabinet. It did not specify the quantities involved. China imposed tariffs of 25 per cent on both US soybeans and pork in July 2018 as a countermeasure to tariffs levied by Washington over allegations that China steals and forces the transfer of American intellectual property to Chinese firms. The waiver comes amid negotiations between the United States and China to conclude a 'phase one' or interim deal to de-escalate a 17-month trade war that has roiled financial markets, disrupted supply chains and weighed on global economic growth. A deal had initially been expected last month, but the two sides are said to be still seeking agreement on major issues such as which tariffs to roll back and the size of US farm purchases China is willing to make. Though Trump struck an upbeat tone on progress in talks on Thursday, a new round of US tariffs covering about $156 billion of Chinese imports is set to kick in just over a week away on December 15. China's tariff waivers on key US agricultural products is a sign of its commitment to the deal, said an industry source who declined to be identified because of the sensitivity of the matter. Beijing's levies on US soybeans initially brought its purchases of the US' most valuable farm export to a virtual halt, although it has offered waivers to buyers in recent months. Those waivers are said to have expired, although new exemptions may come too late, said an analyst. "December arrivals are already pretty high and then we're getting into the Brazil crop," said Darin Friedrichs, senior Asia commodity analyst at INTL FC Stone. "There's limited space to buy new US soybeans at this point." Exemptions for pork are likely to be in higher demand, with less than two months until China's Lunar New Year holiday, the country's peak consumption period. China has been scouring the world for more meat to fill a big shortage of protein after an outbreak of African swine fever devastated its massive hog herd, cutting supplies of pork. US pork exports to China and Hong Kong are already up 47 per cent in volume terms from January to September, even with high duties in place. An adviser to the Chinese government said exemptions on the products suited Beijing, as they helped meet market demand for such goods while reducing the trade surplus with the United States. "We might as well buy soybeans from the US rather than from Brazil. Brazil is actually selling us what was purchased from the United States and they even hiked the prices up before selling to us. In that case, we'd better just buy from the United States," she said.

China to waive tariffs on some US soybeans, pork

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An "active shooter" was reported at a food festival in Gilroy, California on Sunday, police said, adding that were casualties.

Police said multiple casualties were reported in the shooting.

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Riot police in Hong Kong launched volleys of tear gas and rubber bullets on Sunday during hours of running battles with pro-democracy protesters close to Beijing's office in the city, marking the second consecutive day officers have fired on demonstrators.

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US intelligence chief Dan Coats will leave office on August 15, President Donald Trump announced on Sunday, the latest high-profile departure from his turnover-plagued administration.

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The United States has shipped several million tonnes of soybeans to China since the two countries' leaders met in June, Chinese state media said on Sunday, an apparent sign of goodwill before trade talks in Shanghai this week.

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An attack this weekend by Boko Haram fighters on a funeral in northeast Nigeria has left 65 people dead, almost triple the initial toll, a local official said Sunday.

Dozens more bodies were discovered following the assault Saturday by gunmen on a village close to the regional capital Maiduguri.

Multiple casualties in California shooting, 'shooter still active', say police An "active shooter" was reported at a food festival in Gilroy, California on Sunday, police said, adding that were casualties.

Multiple casualties in California shooting, 'shooter still active', say police An "active shooter" was reported at a food festival in Gilroy, California on Sunday, police said, adding that were casualties. Police said multiple casualties were reported in the shooting. Some radical protesters acted violently: Hong Kong police Riot police in Hong Kong launched volleys of tear gas and rubber bullets on Sunday during hours of running battles with pro-democracy protesters close to Beijing's office in the city, marking the second consecutive day officers have fired on demonstrators. US intelligence chief Dan Coats to resign from Trump administration US intelligence chief Dan Coats will leave office on August 15, President Donald Trump announced on Sunday, the latest high-profile departure from his turnover-plagued administration. Millions of tonnes of US soy shipped to China: State media on trade consensus The United States has shipped several million tonnes of soybeans to China since the two countries' leaders met in June, Chinese state media said on Sunday, an apparent sign of goodwill before trade talks in Shanghai this week. Death toll in Nigeria Boko Haram funeral attack rises to 65 An attack this weekend by Boko Haram fighters on a funeral in northeast Nigeria has left 65 people dead, almost triple the initial toll, a local official said Sunday. Dozens more bodies were discovered following the assault Saturday by gunmen on a village close to the regional capital Maiduguri.

News brief: Big stories of the day

Chinese state-owned firms bought at least 1 million tonnes of US soybeans on Friday, a day after <a href="http://www.wionews.com/world/asian-markets-mixed-as-china-us-agree-to-further-trade-talks-194366">high-level bilateral talks</a> yielded progress toward a trade deal and a Chinese commitment to buy more US soybeans.

The purchases are slated for shipment between April and July, with a large share expected from US Gulf Coast export terminals, three traders with knowledge of the deals said.

One trader with direct knowledge of the deals said total purchases were around 2.2 million tonnes. The other two traders said the sales were similar to three recent waves of buying in which state-owned firms booked 1 million to 1.5 million tonnes of soybeans.

The US soybean futures rallied to multi-month highs on Friday on news of renewed demand from the world's top importer.

But the market's gains were restrained by worries that Chinese purchases will hardly dent massive soybean stockpiles in the United States and around the world. The looming harvest of a large soy crop in Brazil, the world's top supplier, further capped prices.

"It certainly is good to see some concessions and more buying interest from China, but this is a concession in terms of a larger trade agreement. Brazilian offers are cheaper than we are so it's just part of the negotiation," said Terry Linn, an analyst with Chicago-based brokerage Linn &amp; Associates.

Friday's purchases by state-owned firms were believed to be destined for China's state reserves, and thus immune from high import tariffs on US beans. The 25 per cent tariffs, imposed last summer in retaliation for US tariffs on Chinese goods, remain in place for US soy imports by commercial crushers in China.

Exports to China have plummeted this season during a bitter trade dispute, with swelling supplies sending prices to near decade lows last autumn and US farmers struggling to turn a profit.

China has been buying most of its soybeans from Brazil, which is on pace to harvest a bumper crop in the coming months.

Friday's sales bring China's total purchases of the 2018 US soybean harvest to at least 6.5 million tonnes, a fraction of its traditional annual haul from the United States of more than 30 million tonnes.

Through January of 2017, more than 29.4 million tonnes of that season's harvest had already been shipped to China, with another 4 million tonnes sold and awaiting shipment, according to US Department of Agriculture data.

Benchmark Chicago Board of Trade March futures climbed to $9.31-1/4 a bushel on Friday, the highest point for a most actively traded soy contract since mid-June. Beijing slapped steep tariffs on US soybeans on July 6, effectively halting all US shipments to their top customer.

Before Friday's sales, China had previously booked an estimated 5 million tonnes of US soybeans in three waves of purchases since U.S. President Donald Trump and his Chinese counterpart Xi Jinping agreed to a trade war detente on December 1.

After high-level trade talks in Washington this week, Chinese Vice Premier Liu He announced on Thursday China would buy an additional 5 million tonnes.

Chinese state-owned firms bought at least 1 million tonnes of US soybeans on Friday, a day after high-level bilateral talks yielded progress toward a trade deal and a Chinese commitment to buy more US soybeans.

Chinese state-owned firms bought at least 1 million tonnes of US soybeans on Friday, a day after high-level bilateral talks yielded progress toward a trade deal and a Chinese commitment to buy more US soybeans. The purchases are slated for shipment between April and July, with a large share expected from US Gulf Coast export terminals, three traders with knowledge of the deals said. One trader with direct knowledge of the deals said total purchases were around 2.2 million tonnes. The other two traders said the sales were similar to three recent waves of buying in which state-owned firms booked 1 million to 1.5 million tonnes of soybeans. The US soybean futures rallied to multi-month highs on Friday on news of renewed demand from the world's top importer. But the market's gains were restrained by worries that Chinese purchases will hardly dent massive soybean stockpiles in the United States and around the world. The looming harvest of a large soy crop in Brazil, the world's top supplier, further capped prices. "It certainly is good to see some concessions and more buying interest from China, but this is a concession in terms of a larger trade agreement. Brazilian offers are cheaper than we are so it's just part of the negotiation," said Terry Linn, an analyst with Chicago-based brokerage Linn & Associates. Friday's purchases by state-owned firms were believed to be destined for China's state reserves, and thus immune from high import tariffs on US beans. The 25 per cent tariffs, imposed last summer in retaliation for US tariffs on Chinese goods, remain in place for US soy imports by commercial crushers in China. Exports to China have plummeted this season during a bitter trade dispute, with swelling supplies sending prices to near decade lows last autumn and US farmers struggling to turn a profit. China has been buying most of its soybeans from Brazil, which is on pace to harvest a bumper crop in the coming months. Friday's sales bring China's total purchases of the 2018 US soybean harvest to at least 6.5 million tonnes, a fraction of its traditional annual haul from the United States of more than 30 million tonnes. Through January of 2017, more than 29.4 million tonnes of that season's harvest had already been shipped to China, with another 4 million tonnes sold and awaiting shipment, according to US Department of Agriculture data. Benchmark Chicago Board of Trade March futures climbed to $9.31-1/4 a bushel on Friday, the highest point for a most actively traded soy contract since mid-June. Beijing slapped steep tariffs on US soybeans on July 6, effectively halting all US shipments to their top customer. Before Friday's sales, China had previously booked an estimated 5 million tonnes of US soybeans in three waves of purchases since U.S. President Donald Trump and his Chinese counterpart Xi Jinping agreed to a trade war detente on December 1. After high-level trade talks in Washington this week, Chinese Vice Premier Liu He announced on Thursday China would buy an additional 5 million tonnes.

China buys one million tonnes of US soybeans a day after trade talks

Commodity traders are in the dark because of the partial<a href="http://www.wionews.com/world/us-congress-meets-briefly-takes-no-action-on-shutdown-186889"> US government shutdown</a>, unable to see daily and weekly reports of agricultural exports to obtain clues as to whether China is following through with promises to buy grain and soy amid the ongoing trade war.

Traders have been anxiously awaiting proof from the <a href="http://www.wionews.com/world/explainer-how-partial-shutdown-of-us-government-could-play-out-186861">US Department</a> of Agriculture that China is ramping up purchases of grains and soy from US farmers, who are preparing their spring planting and trying to secure financing for seeds, fertiliser and land rents.

Now, trade experts and grain analysts warn the suspension of the reports is clouding the marketplace and potentially giving an advantage to big grain companies directly involved in the export trade. The government shut down partially at midnight on December 21.

"We're watching sales to China like a hawk," said Ted Seifried, vice president and chief ag market strategist for the Zaner Group.

Beijing resumed buying US cargoes earlier this month, after the two countries agreed on December 1 to a trade war truce. But hefty tariffs on US cargoes remain in place, and there is uncertainty over how much the top US soybean customer will purchase.

The gap also gives the large commercial grain merchants - such as Archer Daniels Midland Co, Bunge Ltd, Cargill Inc and Louis Dreyfus Corp - an advantage by allowing them to keep their export deals with countries like China and Mexico out of the public marketplace.

ADM and Cargill said on Friday they had no comment. The other two companies could not immediately be reached for comment.

Rich Feltes, vice president for research with Chicago-based brokerage R.J. O'Brien, said the absence of USDA export sales data can increase the risk involved in trading agricultural markets, pushing speculators to the side.

"It gives a little bit of unfair advantage to exporters who either are or are not making sales and can trade that information accordingly," he said.

Along with its weekly export sales reports, the USDA has issued daily announcements of grain and soybean sales over 100,000 tonnes since 1977. The reporting system was launched in response to the purchase of millions of tonnes of US grain by the Soviet Union in 1972 in deals that resulted in soaring US grain and food prices

FARMERS AT RISK

University of Illinois agricultural economist Scott Irwin said the partial shutdown could also deal a blow to farmers suffering from the US-China dispute, by delaying aid payments meant to help offset some of the losses for crops hit by retaliatory Chinese tariffs in a trade war launched by US President Donald Trump.

"If you're talking about cash in the farmer's pocket, the longer this goes on, the longer it's going to delay that program, which is really just getting ramped up," Irwin said.

The shutdown entered its seventh day on Friday and was on track to continue into next week and possibly longer. It affects about 800,000 employees of the Departments of Homeland Security, Justice, Agriculture, Commerce, and other agencies.

If the shutdown persists, it also could jeopardise the release of a host of hotly anticipated monthly and quarterly grain supply and demand reports.

The USDA on Friday reiterated that the shutdown if it continues, would halt its World Agricultural Supply and Demand Estimates (WASDE) report and reports by its National Agricultural Statistics Service, which tracks quarterly US grain stocks and US winter wheat seedings.

Those reports, along with an annual summary of US crop production, were scheduled for release on January 11.

In the reports, Feltes said analysts expected to see the USDA trim its estimates of the average 2018 US corn and soybean yields, imply strong feed usage of corn in the first quarter, and shed light on how many acres of winter wheat farmers were able to plant this past autumn, given excessive rains in many areas.

"Those are all bullish influences that we are going to be denied confirmation of," he said.

Commodity traders are in the dark because of the partial US government shutdown, unable to see daily and weekly reports of agricultural exports to obtain clues as to whether China is following through with promises to buy grain and soy amid the ongoing trade war.

Commodity traders are in the dark because of the partial US government shutdown, unable to see daily and weekly reports of agricultural exports to obtain clues as to whether China is following through with promises to buy grain and soy amid the ongoing trade war. Traders have been anxiously awaiting proof from the US Department of Agriculture that China is ramping up purchases of grains and soy from US farmers, who are preparing their spring planting and trying to secure financing for seeds, fertiliser and land rents. Now, trade experts and grain analysts warn the suspension of the reports is clouding the marketplace and potentially giving an advantage to big grain companies directly involved in the export trade. The government shut down partially at midnight on December 21. "We're watching sales to China like a hawk," said Ted Seifried, vice president and chief ag market strategist for the Zaner Group. Beijing resumed buying US cargoes earlier this month, after the two countries agreed on December 1 to a trade war truce. But hefty tariffs on US cargoes remain in place, and there is uncertainty over how much the top US soybean customer will purchase. The gap also gives the large commercial grain merchants - such as Archer Daniels Midland Co, Bunge Ltd, Cargill Inc and Louis Dreyfus Corp - an advantage by allowing them to keep their export deals with countries like China and Mexico out of the public marketplace. ADM and Cargill said on Friday they had no comment. The other two companies could not immediately be reached for comment. Rich Feltes, vice president for research with Chicago-based brokerage R.J. O'Brien, said the absence of USDA export sales data can increase the risk involved in trading agricultural markets, pushing speculators to the side. "It gives a little bit of unfair advantage to exporters who either are or are not making sales and can trade that information accordingly," he said. Along with its weekly export sales reports, the USDA has issued daily announcements of grain and soybean sales over 100,000 tonnes since 1977. The reporting system was launched in response to the purchase of millions of tonnes of US grain by the Soviet Union in 1972 in deals that resulted in soaring US grain and food prices FARMERS AT RISK University of Illinois agricultural economist Scott Irwin said the partial shutdown could also deal a blow to farmers suffering from the US-China dispute, by delaying aid payments meant to help offset some of the losses for crops hit by retaliatory Chinese tariffs in a trade war launched by US President Donald Trump. "If you're talking about cash in the farmer's pocket, the longer this goes on, the longer it's going to delay that program, which is really just getting ramped up," Irwin said. The shutdown entered its seventh day on Friday and was on track to continue into next week and possibly longer. It affects about 800,000 employees of the Departments of Homeland Security, Justice, Agriculture, Commerce, and other agencies. If the shutdown persists, it also could jeopardise the release of a host of hotly anticipated monthly and quarterly grain supply and demand reports. The USDA on Friday reiterated that the shutdown if it continues, would halt its World Agricultural Supply and Demand Estimates (WASDE) report and reports by its National Agricultural Statistics Service, which tracks quarterly US grain stocks and US winter wheat seedings. Those reports, along with an annual summary of US crop production, were scheduled for release on January 11. In the reports, Feltes said analysts expected to see the USDA trim its estimates of the average 2018 US corn and soybean yields, imply strong feed usage of corn in the first quarter, and shed light on how many acres of winter wheat farmers were able to plant this past autumn, given excessive rains in many areas. "Those are all bullish influences that we are going to be denied confirmation of," he said.

Is China buying US soy? Washington shutdown keeps traders guessing

China on Wednesday announced plans to hit the United States with new tariffs of 25 percent on soybeans, airplanes, cars and other imports worth $50 billion, hours after Washington unveiled its own target list.

China's commerce ministry listed 106 products that will be targeted and said a date for the implementation of the tariffs would be announced separately.

China's latest tariff hike announcement comes after US escalated the trade war between two superpowers by&nbsp;proposing 25 percent tariffs on $50 billion in Chinese imports.&nbsp;

The Trump administration on Tuesday escalated its aggressive actions on trade by proposing 25 percent tariffs on $50 billion in Chinese imports to protest Beijing’s alleged theft of American technology.

The Office of the U.S. Trade Representative issued a list targeting 1,300 Chinese products, including industrial robots and telecommunications equipment. The suggested tariffs wouldn’t take effect right way: A public comment period will last until May 11, and a hearing on the tariffs is set for May 15. Companies and consumers will have the opportunity to lobby to have some products taken off the list or have others added.

(With AFP inputs)

&nbsp;

China announced Wednesday plans to hit the United States with new tariffs of 25 percent on soybeans, airplanes, cars and other imports worth $50 billion, hours after Washington unveiled its own target list.

China on Wednesday announced plans to hit the United States with new tariffs of 25 percent on soybeans, airplanes, cars and other imports worth $50 billion, hours after Washington unveiled its own target list. China's commerce ministry listed 106 products that will be targeted and said a date for the implementation of the tariffs would be announced separately. China's latest tariff hike announcement comes after US escalated the trade war between two superpowers by proposing 25 percent tariffs on $50 billion in Chinese imports. The Trump administration on Tuesday escalated its aggressive actions on trade by proposing 25 percent tariffs on $50 billion in Chinese imports to protest Beijing’s alleged theft of American technology. The Office of the U.S. Trade Representative issued a list targeting 1,300 Chinese products, including industrial robots and telecommunications equipment. The suggested tariffs wouldn’t take effect right way: A public comment period will last until May 11, and a hearing on the tariffs is set for May 15. Companies and consumers will have the opportunity to lobby to have some products taken off the list or have others added. (With AFP inputs)

China retaliates with tariff hike on $50 billion of US goods including soybeans, aircraft, autos

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