China drops tariffs on soybeans for some Asian nations

China on Tuesday confirmed it would cut tariffs on goods from five Asian nations, including soybeans, as a brewing trade war with the US could make American beans more costly.As part of the Asia-Pacific Trade Agreement with neighbours Bangladesh, India, Laos, South Korea and Sri Lanka, Beijing will drop tariffs to zero on several important farm imports while cutting tariff rates on dozens of other goods starting July 1.The date comes five days before Beijing is scheduled to impose new tariffs on