China drops import tariffs on feed ingredients from Asian neighbours as US dispute mounts
Updated : June 26, 2018 12:58 PM IST
China said on Tuesday it will remove import tariffs on soybeans from Bangladesh, India, Laos, South Korea and Sri Lanka, after Beijing hit imports of the oilseed from the United States with a hefty penalty as part of an escalating trade dispute.
The Ministry of Finance said the cut will be effective from July 1.
Tariffs are currently 3 percent.