China’s port of Dalian receives USA soybean vessel following imposition of tariffs

The soybean crop is being hit hard by the Chinese tariffs

The soybean crop is being hit hard by the Chinese tariffs

In the South China Morning Post, a government official warned that USA agriculture may never regain lost market share stemming from the trade war. Since the trade war began, China has imposed duties on 90 percent of agricultural goods from the United States.

The unloading follows the departure of Peak Pegasus from the same port on Thursday after discharging its cargo of 70,000 tonnes of US soybeans. China is the world's biggest importer of soybeans, which it uses to make cooking oil, biodiesel and livestock feed.

A vessel carrying about 70,000 tonnes of US soybeans has unloaded its cargo worth at least $23 million at the Chinese port of Dalian, according to shipping data on Thomson Reuters Eikon on Thursday.

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Last Saturday, a dry cargo vessel carrying soybeans from the USA which has in recent weeks been docked off China's coast after considerable tariffs were imposed, entered the port of Dalian in northeast China.

In the case of Peak Pegasus, the Chinese government grain reserves manager Sinograin agreed to pay the tariffs, roughly $6 million, to the dismay of Chinese taxpayers, according to Business Insider. Dalian port officials told Reuters they had not seen major backlogs since June, though. China responded in kind and said it will impose tariffs on $16 billion worth of imports from the 333 categories.

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