China to Maintain Grain Import Quotas, Despite a Promise to Increase US Agri Imports
China to Keep Grain Import Quotas, Despite a Promise with the U.S. to Increase Agricultural Import Products.
Last year the U.S. had phased out tariffs, targeting to be levied on December 15 after Washington had finally reached the “Phase One” deal with China where the latter promised to increase its import of US agricultural products.
Besides the phase-out on tariffs, the U.S. has yet to announce how it will roll back tariffs on Chinese imports while Beijing has yet to reveal the exact number it expects to increase as well.
However, in the afternoon of January 7, 2020, the Chinese Vice Minister of Agriculture and Rural Affairs Han Jun confirmed to Chinese financial news site Caixin that import quotas for wheat, corn and rice will not increase this year.
Jun told Caixin that these are global quotas and China will not adjust the quotas just for one country.
The U.S. and China are expected to sign the “Phase One” deal in Washington possibly next week and then discuss the “Phase Two” deal in Beijing not long after that.
This could give n uncertainty in the relationship that has been building between Washington and Beijing. Meanwhile, the Chinese agriculture ministry has yet to make any statements regarding the matter.