China removes several US products from tariffs list
China removes several US products from tariffs list
China exempts 16 types of US goods from additional tariffs
11 September, 2019, 20:14
China and the U.S. have been embroiled in a year-long trade war that has seen the two sides slap punitive tariffs on hundreds of billions of dollars in two-way trade.
The measure will enter into force on September 17 and will be valid for one year - until September 16, 2020, BTA informs. Chinasaid it will open the third tranche of tariffs up for exemption requests later, though it hasn't specified a date.
The products include whey and fishmeal used for animal nutrition, and some lubricants, Reuters said, citing a statement from the Chinese Treasury.
Beijing's announcement comes as China and the USA get ready to meet in Washington in October for the next round of talks regarding the ongoing trade and tariff dispute.
In their latest escalation, Washington imposed 15% tariffs on $112 billion of Chinese imports on September 1 and is planning to hit another $160 billion December 15. The rest of the 15% tariffs applying to this tranche of goods will take effect on December 15.
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The latest exemptions include 25 percent tariffs on pharmaceuticals and pesticides, but levies on other major agricultural items such as soybeans and pork have not been lifted. The Ministry of Finance's announcement Wednesday, Sept. 11, 2019 came ahead of October talks aimed at ending the fight over trade and technology that threatens global economic growth. Tariffs already imposed on these items are deemed non-refundable. Punitive duties on soybeans, the biggest USA export to China, and thousands of other items were left unchanged.
In a tweet early Wednesday, US President Donald Trump noted the tariff exemptions, saying the trade war was proving more costly for China than previously thought.
Xi reportedly went on to complain to Abe about how the Trump administration has continued to lambaste China at every turn for supporting state-owned companies with subsidies while "the U.S.is also supporting Boeing with subsidies", in reference to the Chicago-based plane builder. -China relations, including trade, the chamber said in a statement.
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