Bloomberg reports, citing people familiar with the situation
The report says that China will provide retaliatory tariff waivers to buyers of US farm products on a more regular basis after the countries reached a Phase One trade deal.
Adding that the waivers will now be handed out more frequently as to before, when they were given in tranches. For some context, this adds to the story seen earlier this month here but as I mentioned then, it comes with a caveat.
And I reckon it is a similar case here. The Phase One deal so far is lacking in terms of details but if anything, I don't expect China to put a firm commitment on the number i.e. how much farm purchases they will make in a year.
This has been touted to be around $40 to $50 billion annually but I believe China will want to conduct such purchases on a "best effort basis" instead - so as to not be forced into disrupting their current supply chain with other countries.
Nonetheless, it is still a good sign that at least they are making an effort to keep the trade truce. But once again, this isn't one that is expected to last for long anyway.
