Heavy Tariffs Imposed on US Soybean Import into China

A dry cargo vessel carrying soybeans from the US, which in recent weeks has been anchored offshore, has after considerable tariffs were imposed, entered the port of Dalian in northeast China to begin unloading.

 

The Peak Pegasus was reportedly carrying 70 000 tonnes of soybeans, worth at least US$23 million. It's customer, Sinograin, apparently had no choice but to pay the $6m tariff.

 

Beijing recently imposed 25% import duties on US£34 billion worth of US goods. These penalties have been imposed in response to similar action taken in Washington, reflecting the current US-China trade dispute.