China exempts 16 types of US exports from tariffs as trade talk looms


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China exempts 16 types of US exports from tariffs as trade talk looms

On Wednesday, the 11th of September 2019, Chinese Ministry of Finance had issued a statement saying that Beijing would exempt 16 types of US exports from additional levies, as Washington and Beijing were looking to a planned meet of trade negotiators from both sides to de-escalate their lacerating trade spat as early as by next month.

Nonetheless, according to Chinese Ministry of Finance’s Wednesday’s (September 11th) statement, exemption of additional duties would involve 16 types of US exports such as some lubricants alongside anti-cancer drugs and animal feeds as well as fish meal.

In point of fact, latest decision of China largely coincided with a statement of Beijing made back in May this year, when Chinese Ministry of Finance had pledged to start off a waiver program for some US exports as expenses of a yearlong trade spat would likely to slow down China’s waning economic growth further.

Nonetheless, while some analysts were contemplating the deal as a token of good gesture, but they denied to consider it as a signal that the trade-war-struck sides were prepared to ink a trade deal, while an economist of ING’s Greater China, Iris Pang wrote in a client note, “The exemption could be seen as a gesture of sincerity toward the U.S.

ahead of negotiations in October but is probably more a means of supporting the economy. There are still many uncertainties in the coming trade talks. An exemption list of just 16 items will not change China’s stance”.