(Corrects price in second bullet to 3,097 yuan not 3,046 yuan)
BEIJING, July 6 (Reuters) -
* China’s January 2019 soymeal futures fell more than 2 percent on Friday afternoon, as two of the world’s leading economies implemented a fresh round of tariffs on each other’s goods and moved closer to an all-out trade war
* The January soymeal contract traded on the Dalian Commodity Exchange was at 3,097 yuan ($465.95) a tonne, as of 0545 GMT, down 2.5 percent on the morning close, but later recovered from most of the losses
* The steep fall came after the United States imposed tariffs on $34 billion of Chinese imports. Beijing had promised to retaliate in kind.
* Some traders had, however, expected an official statement from Beijing that it had imposed retaliatory tariffs, leading to confusion in the market
* Soymeal was expected to rally on the news, as Beijing’s tariffs on soybeans imported from the United States are expected to push up costs for the key animal feed ingredient
$1 = 6.6466 Chinese yuan renminbi Reporting by Dominique Patton, Editing by Sherry Jacob-Phillips