China to exempt 16 categories of USA products from tariffs

China to exempt 16 categories of USA products from tariffs

China announced its first batch of tariff exemptions for 16 types of USA products, days ahead of a planned meeting between trade negotiators from the two countries to try and de-escalate their bruising tariff row. An exemption list of just 16 items will not change China's stance.

The items on the two tariff exemption lists - posted on the ministry's website - will not be subject to additional duties imposed by China on U.S. goods "as countermeasures to U.S. Section 301 measures", the ministry said in its statement.

The exemptions will apply to USA goods including some anti-cancer drugs and lubricants, as well as the animal feed ingredients whey and fish meal, the Ministry of Finance said in a statement on its website on Wednesday.

Last week, the United States slapped China with the first stage of a new round of tariffs that will see almost all Chinese imports taxed. That will be followed by highly-anticipated minister-level meetings in early October in the U.S. capital, involving Chinese Vice Premier Liu He, U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin.

Washington, Europe, Japan and other trading partners say those plans violate China's market-opening commitments and are based on stealing or pressuring companies to hand over technology.

Beijing has said it would work on exempting some USA products from tariffs if they are not easily substituted from elsewhere. That has battered farmers and manufacturers on both sides and fueled fears a global economy that already was showing signs of a slowdown might tip into recession.

Abe reportedly told Xi that Trump trusts the Chinese president, but Xi continued to voice frustration and the big reason for his distrust is how the USA has handled Chinese telecom giant Huawei, which has been banned from us networks and from buying American tech. Tariffs of 25% imposed previously on $250 billion of Chinese goods are due to rise to 30% on October 1.

Xi further complained to Abe that while the Trump administration has repeatedly criticized Beijing for supporting state-owned companies with subsidies, "the U.S.is also providing Boeing with subsidies", referring to the Chicago-based USA airplane manufacturer. Some have been hit with increases a few times, while about $50 billion of USA goods is unaffected, possibly to avoid disrupting Chinese industries.

More news: Indian men drawn to face Russia in FIH Olympic Qualifiers
More news: Kelvin Fletcher: Strictly bittersweet because of Jamie Laing's injury
More news: Hong Kong Exchange proposes merger with London Stock Exchange

Both sides imposed fresh tit-for-tat tariffs on September 1 in the latest round of levies, which now cover goods worth hundreds of billions of dollars. Beijing responded by imposing duties of 10% and 5% on a range of American goods.

Products covered by Wednesday's exemptions include lubricants, insecticides and whey and fish meal for animal feed.

According to the Chinese Foreign Ministry, Xi had a telephone conference with Trump on June 18, during which he expressed China's hope that "the USA side can treat Chinese firms in a fair manner".

Beijing has agreed to narrow its politically sensitive trade surplus with the United States but is reluctant to give up development strategies it sees as a path to prosperity and global influence.

China insists Trump's punitive tariffs must be lifted once a deal takes effect.

Some analysts suggest Beijing might be holding out in hopes Trump will feel pressure to make a more favorable deal as his campaign for the 2020 presidential election picks up.

Although Abe told Xi that Trump trusts the Chinese president, Xi continued to air his grievances about his US counterpart, the diplomatic source told Kyodo News.

Related Articles

  • Apple rolls out new streaming TV service for $5 per month

    Apple rolls out new streaming TV service for $5 per month

    Cook also announced that anyone who purchases an iPhone , iPad or Mac computer will get Apple TV + service for free for one year. But the companies' intent to disrupt Netflix's huge lead in the streaming business couldn't be clearer.
    Apple Arcade will cost $4.99 per month and launch September 19th

    Apple Arcade will cost $4.99 per month and launch September 19th

    And, in India, the subscription will cost only ₹99 per month whereas, in the U.S. , the cost for Apple Arcade is $4.99 (₹358.57). In India, that disparity is even more pronounced with Android dominating with 93.02% market share and iOS limited to 2.65%.

    New iPhone met with myriad memes over freaky , three-eyed design

    Apple claims that the iPhone 11 Pro and iPhone 11 Pro Max cameras have the highest quality video ever in a smartphone. The Apple TV+ price range will begin at A$7.99 per month and be available in over 100 countries.
  • Rihanna's 'Savage X Fenty Show' to feature Halsey, Migos, DJ Khaled, more

    Rihanna's 'Savage X Fenty Show' to feature Halsey, Migos, DJ Khaled, more

    Bad Gal Riri announced that the audience is going to enjoy performance of supermodels and celebrities on the runway in NY . The Savage x Fenty lingerie fashion show will be held tonight at 9:30 sharp at the Barclay Center in Brooklyn.
    Brazil's president again stresses sovereignty over Amazon

    Brazil's president again stresses sovereignty over Amazon

    The current fires in the Amazon are largely attributed to people clearing the forest for cattle ranching and crops. Aside from the absence of the Amazon, the process of destroying the forest would spell disaster as well.
    Labour Rebel Scorches Corbyn in Brexit Parliament Debate

    Labour Rebel Scorches Corbyn in Brexit Parliament Debate

    The suspension of Parliament has garnered criticism from Johnson's political opponents who see it as anti-democratic and illegal. Two-thirds of MPs must support an early election, but parliament is now suspended until October 14.
  • Will Rafael Nadal or Daniil Medvedev win US Open men's singles title?

    Will Rafael Nadal or Daniil Medvedev win US Open men's singles title?

    Men's tennis will get a taste both of its glorious recent past and uncertain future in Sunday's final of the US Open. Follow any of the links on this page to Bet365 & click on the play button to watch Daniil Medvedev vs Rafa Nadal.
    Former top FEMA official busted for taking bribes after Hurricane Maria

    Former top FEMA official busted for taking bribes after Hurricane Maria

    They include charges against Tribble and Ellison of conspiracy to commit bribery, honest services wire fraud and disaster fraud. Cobra was awarded two contracts worth about $1.8 billion combined, according to court documents filed on September 3.
    Terry Wilson carted off the field with apparent knee injury

    Terry Wilson carted off the field with apparent knee injury

    It's very unfortunate that it's part of our game, but that's why it's in (the rule book)", Stoops said per the Courier Journal . Kentucky football's 38-17 win over Eastern Michigan on Saturday turned out to be costly.
  • Arnold Schwarzenegger fears he helped Trump become presidential

    Arnold Schwarzenegger fears he helped Trump become presidential

    Wow, the rankings are in and Arnold Schwarzenegger obtained "swamped" (or destroyed) by comparison to the ratings equipment, DJT. He defined: 'I all the time complain about Trump not with the ability to shift from Trump to president.
    The Weeknd is unrecognisable at Toronto premiere of Uncut Gems

    The Weeknd is unrecognisable at Toronto premiere of Uncut Gems

    They add "They hope to get back together at one point but for now are focusing on themselves and their projects". Historical accuracy aside, the beardless Weeknd ( the Weekdy, if you will ) is a look worth soul-searching for.
    New Poll: Sanders, Warren Surging While Biden, Harris Slip

    New Poll: Sanders, Warren Surging While Biden, Harris Slip

    Her candidacy also holds the potential of energizing women and black voters, two of the most important Democratic constituencies. This week's debate comes as recent national polls show Biden, Warren and Bernie Sanders leading the Democratic primary field.