TRADE WAR
China pays duties for US soya beans
China’s state grains stock-piler Sinograin confirms it will pay an additional 25% import tariff — about $6m
Beijing — A vessel carrying US soya beans was unloading its cargo worth at least $23m at the Chinese port of Dalian on Monday, becoming one of the first shipments to incur hefty new import duties as the trade row deepens between Beijing and Washington. The docking of the vessel after five weeks anchored off China’s coast ended speculation over the fate of the cargo. China’s state grains stock-piler Sinograin confirmed in a fax to Reuters it will pay the additional 25% import tariff — about $6m — on the 70,000t cargo of the beans. Comments on the country’s Twitter-like Weibo showed that early public support for the cargo had started to wane amid concerns the public is footing the bill for the trade war. "Isn’t Sinograin state-owned? Who is this tariff hurting? Eventually it is us paying the tariffs and it’s us being sanctioned!" said one user. There were more than 800 comments, mostly negative. "Are we imposing sanctions on ourselves? Common people will have to pay for that," said an...
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