China The US has imposed three rounds of tariffs on Chinese products this year, totalling goods worth $250 billion.

hina, the largest importer of soybean, is likely to open its door for the oilseeds from India following a tariff war with the US. Beijing had recently allowed India to export non-basmati rice, rapeseed and raw sugar to meet its growing demand.

“The modalities to allow the export of soybeans to China is being worked out and an announcement from Beijing could be made very soon,” a senior commerce ministry official said.

Soybean is one of the items on which China imposed retaliatory duties of 25 per cent against the US in response to similar levies imposed by the Trump administration on Chinese products.

The trade war is providing a window to the country’s agricultural products to enter the Chinese markets which will help reduce the trade deficit. The US has imposed three rounds of tariffs on Chinese products this year, totalling goods worth $250 billion, including bags, rice and textiles. Beijing has retaliated with tariffs on US goods worth $60 billion, mostly chemicals, meat, wheat and wine.

China had already cut import tariffs on soybean meals from Bangladesh, Laos, South Korea and Sri Lanka to prepare for more imports from these countries following its reduced purchases from the US. It is buying huge quantities from Brazil to meet its demand.