China will impose an additional 5%-10% import tax on four US-origin soybean varieties from September 1, the Ministry of Finance announced Friday.
This retaliatory tax, ranging between 5%-10%, covers a total of 5,078 trade items of US-origin worth $75 billion, including the four soybean varieties, the announcement said.
According to the Chinese ministry, effective September 1, total import duty on US-origin yellow soybean will be 30%, while 35% import tax will be levied on other soy varieties in total, such as green soybean, soybean seed and other soybean.