China exempts 16 US goods from additional tariffs

China exempts 16 US goods from additional tariffs

Agency News

Beijing, Sep 11: China's Ministry of Finance on Wednesday announced exemptions on 16 US goods from additional tariffs, including anti-cancer drugs, lubricants and fish meal.

The exemption, which is scheduled to go into effect from September 17, will be valid for a year through to September 16, 2020, South China Morning Post reported.
It is the first time that Beijing has issued such exemptions since the US-China trade war began, that marked their latest attempt to resolve a protracted trade dispute.
The announcement also came before Chinese trade deputies are expected to meet with their US counterparts in mid-September in Washington.

Later, a high-level official meeting will take place in the US capital next month, involving Chinese Vice Premier Liu He, US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin.

The trade row between the world’s two largest economies erupted in June 2018 when the United States imposed the first round of its additional trade duties on China, prompting Beijing to respond in kind.

Since then, Washington and Beijing have imposed tariffs on billions of dollars’ worth of one another’s goods, battering financial markets and souring business. (UNI)