China buys soya from the USA again
China has resumed importing soy from the USA. In the past 24 hours Chinese importers have ordered between 1.5 and 2 million tonnes of soya, the Association of American Soya Exporters announced on Thursday.
pixabay/charlesricardo
The goods are expected to be shipped during the first quarter of 2019.
This is the first significant soybean order since the beginning of the serious trade conflict between the USA and China. As a result, China had stopped imports from the US and switched instead to other suppliers, including Argentina and Brazil.
China is by far the world's largest consumer of soybeans.
The resumption of soy imports is another sign that the trade conflict between the world's two largest economies seems to be easing. Most recently, US President Donald Trump had offered to stand up for the Huawei CFO held in Canada, insofar as this would have a positive impact on the trade conflict.
China, on the other hand, had already announced the resumption of soy imports. Furthermore, the country is considering reducing import duties on American cars and apparently wants to change its technology strategy "Made in China 2025" in the sense of the USA./bgf/jkr/jha/ (dpa)
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