Nebraska officials expressed cautious optimism Friday about a report that China will suspend plans for further tariffs on pork and soybeans from the U.S. China's Xinhua News Agency reported the plan, citing the Cabinet planning agency and the Commerce Ministry. Beijing "supports domestic companies in purchasing a certain amount of U.S. farm produce," it said, but it gave no details.
Beijing imposed 25% tariffs on American farm goods last year in response to President Donald Trump's tariff hikes on Chinese goods. Importers were ordered to stop buying soybeans, the biggest U.S. export to China. The move follows Trump's decision Wednesday to postpone a planned Oct. 1 tariff hike on Chinese imports to Oct. 15.
China's move may be due in part to problems in the country's pork industry, which is reeling from an epidemic of African Swine Fever that has caused pork prices to soar.
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