China to remove import quotas for soybean, rapeseed, palm oils

China plans to remove soybean oil, rapeseed oil and palm oil from its import tariff quota management, its commerce ministry said.

The news comes after the ministry said on Tuesday Chinese companies had stopped buying US agriculture products in response to US President Donald Trump’s decision last week to impose tariffs on another $300 billion of Chinese imports, sharply escalating a tit-for-tat trade dispute between US and China. The commodities were removed from a draft tariff quota management list posted on the official website of the commerce ministry.