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China has done away with tariffs on the US agricultural products after Washington decided to reduce its fentanyl-linked tariffs on Chinese products.

On Wednesday, November 5, China’s Ministry of Finance confirmed that the east Asian nation will halt tariffs imposed with effect from (w.e.f) March 4 on soybeans and American agricultural products like corn, wheat, sorghum and chicken.

This reversal of tariff imposition by China will come into effect from Monday at 1:01 PM after the US President Donald Trump inked executive orders reducing fentanyl-related levies on Chinese exports to 10% from November 10, and continued a truce bringing down the reciprocal US tariff rate within 34% to 10%.

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