China Exempts Tariff Hikes on 16 US Import Items
Arslan Butt • 1 min read
In what could be a positive development in the US-China trade war, China has exempted 16 kinds of US imports from more tariffs. This decision was announced by China’s Ministry of Finance earlier today.
US imports exempted from additional tariffs include whey, fish meal, lubricants, anti-cancer drugs, and more. The exemption is valid from September 17, 2019 for a period of one year. On its announcement, the ministry has also added that these items will not be subject to retaliatory tariffs that were imposed after the US announced the latest round of tariffs a few weeks ago.
This announcement has helped the risk sentiment improve considerably as financial markets take this as a sign that China is willing to work together with the US towards resolving their differences in issues of trade.