China grain traders await lower tariffs before returning to U.S. market

China will need to drop its steep tariffs imposed on a range of American farm products earlier this year before it can fulfill its pledge to buy a "very substantial" amount of U.S. goods, said Chinese traders on Monday. China and the United States agreed on Saturday to refrain from setting additional tariffs that would further escalate a months-long trade war that has roiled global markets and halted sales of American soybeans to the world's top buyer. The temporary truce on trade followed talks between U.S. President Donald Trump and Chinese President Xi Jinping at the end of a two-day gathering of world leaders in Argentina.

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