In a Reuters interview late-Wednesday, Cao Derong, President of the China Chamber of Commerce for Import and Export of Foodstuffs, Native Produce and Animal By-Products (CFNA), said that Beijing could remove extra tariffs imposed since last year on US farm products to help importers buy up to $50 billion worth.
Key Quotes:
“What the government can do is to remove the extra tariffs, both sides need to do this. Then let the companies make the purchases based on their own will, and based on market rules.”
“This would create conditions for a “convenient” and “good” trade environment, rather than obliging firms to buy a certain amount of product during a certain period of time.”
“After the tariffs are removed, the trade goes back to normal. Then how much the firms would buy depends on the market.”
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