News

China Waives Tariffs On 16 Types Of US Goods In Latest Attempt To ‘Sweeten’ Trade Deal

For the first time since the US-China trade war began, Beijing has waived import tariffs on more than a dozen US goods, FT reports.

Beginning Sept. 17, China will remove 25% tariffs on 16 types of US exported goods for one year – a sign of good will ahead of talks between US and Chinese trade delegations.

Cancer drugs, lubricant oils and a handful of chemicals which China either doesn’t produce itself or can’t easily replace by buying from other countries made it on the list.

No major US items, like soybeans or pork, were included in the list of excluded items, as Beijing has turned to other countries like Argentina and Brazil to source many of these products.

China’s State Council, which made the announcement, said it expects to release more lists of exempted goods in the near future, according to CNN.

Ahead of a trip to Washington by China’s top trade negotiators next month, lower-level Chinese delegates are expected to resume talks with their US counterparts this week or next.

More

Advertisements

Categories: News

Tagged as: , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s