Madhya Pradesh Chief Minister Shivraj Singh Chouhan said that the new tariffs imposed by the United States on China will be a 'golden opportunity' for the state to export soybeans to China.
Chouhan's statement comes days after the US slapped tariffs of USD 34 billion on Chinese imports, escalating a fight that could hurt companies and consumers in both the countries.
The new tariffs on Chinese goods will undoubtedly prompt quick retaliation by China, which is expected to impose retaliatory tariffs on American exports, such as soybeans, seafood, SUVs and crude oil.
"I met Prime Minister Narendra Modi and discussed about China levying tariff on American soybean. It will be a golden opportunity for Madhya Pradesh and other states too," Chouhan told media here.
"I have also discussed this issue with Union Minister for Commerce and Civil Aviation Suresh Prabhu one exporting soybean to China which will bring benefit to the country and state. With this, we can give better price to the farmers and they can also profit through minimum support price (MSP)," he added.
Chouhan further said that the state government is planning to send a delegation to China to strengthen their bilateral trade.
"Suresh Prabhu has given a positive nod over the issue. We will also soon talk to few exporters in Bhopal and Indore concerning the same. I'm also planning to send our delegation to China so that better relations are build up," he said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)