China's First-Quarter US Farming Product Imports More Than Doubled on Tariff Cuts
Tang Shihua
DATE:  Apr 14 2020
/ SOURCE:  Yicai
China's First-Quarter US Farming Product Imports More Than Doubled on Tariff Cuts China's First-Quarter US Farming Product Imports More Than Doubled on Tariff Cuts

(Yicai Global) April 14 -- China's agricultural product imports from the US have more than doubled at CNY35.6 billion (USD5 billion) in the first quarter from a year ago, partly due to decreased taxes, according to customs data.

After China and the US signed the trade deal, US agricultural product imports increased rapidly, Li Quiwen, spokesman for China's General Administration of Customs said today.

China imported 7.8 million metric tons of soybean from the States, more than tripled from a year earlier. Its US pork imports grew more than seven times to 168,000 tons. Meanwhile, its cotton tally rose by 44 percent to 124,000 tons.

But the total bilateral trade between the pair decreased over the quarter due to the Covid-19 pandemic. Trade fell by 18 percent to CNY668 billion (USD94.8 billion). Exports declined by 24 percent to CNY476.6 billion and imports by 1 percent to CNY191.5 billion.

Editor: Emmi Laine

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Keywords:   Economic Data,Trade Balance,Agriculture Products,United States,China Customs