China pulls back tariffs on US-origin ethanol imports from March 2

In China, Platts reports that as part of its efforts to ease trade tensions with the US, it is pulling back tariffs on close to 700 products, including denatured ethanol, which is meant to significantly help the US ethanol industry who has been suffering due to high tariffs that made exports to that key market largely unviable. China imported just 10% of its 2018 volume of US-origin denatured ethanol in 2019 due to 70% tariff that was implemented in April 2019, instead looking to South Africa to fill a small part of that gap. The new shift in policy that goes into effect on March 2 is only for a year and export applications will have to be approved, probably in bulk.