UPDATE 1-China importers hope to sell U.S. cargoes to north Asia after tariff move [Reuters]
Phillips 66 (PSX)
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Source: Reuters
UPDATE 1-China importers hope to sell U.S. cargoes to north Asia after tariff move | Reuters Reuters Staff 3 Min Read (Adds more details from U.S. soybean markets) BEIJING, April 4 (Reuters) - Chinese importers expecting cargoes of U.S. commodities from beef to propane said they hope to sell the goods to South Korea or Japan after Beijing’s decision to slap extra tariffs on a swathe of items from agricultural products to chemicals. Beijing on Wednesday hit back against the Trump administration’s plans to impose tariffs on $50 billion in Chinese goods, retaliating with a list of similar duties on key U.S. imports including soybeans, planes, cars, whiskey and chemicals. The speed of China’s move stunned financial markets. Traders of soybeans, of which China is the largest importer, said they were bracing for mass cancellations of purchases, even though the United States is the country’s second-largest supplier. Prices of soybeans shipped from ports in the U.S. Pacific Northwest, the mos
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