U.S. Ag Secretary: Talks with China to Cut Ethanol Tariffs ‘Positive’
U.S. Agriculture Secretary Sonny Perdue said on Tuesday that talks with China about reducing Beijing’s tariff on U.S. ethanol products were “positive,” but cautioned the discussions were not over, reports Humeyra Pamuk and Chris Prentice on Reuters.com.
“There have been conversations with China on reducing that tariff on ethanol, which would obviously be good for our domestic corn industry,” he told reporters. “While things look positive, it’s never over till it’s over with the Chinese.”
The U.S. and China have been embroiled in a tit-for-tat tariff battle since July 2018, roiling global financial markets and supply chains, and costing both of the world’s two largest economies billions of dollars.