China waives tariffs on some US goods for first time since the trade war began
China just waived import tariffs on more than a dozen US goods. It’s the first time Beijing has issued such exemptions since the US-China trade war began.
The Chinese government issued tariff exemptions on 16 products, including shrimp, fish meal and cancer treatment drugs.
Chinese importers can apply for a refund of tariffs already levied on 12 of the products. Four products, including whey, are eligible for the exemption but not for refunds.
The exemptions will start September 17 and last for a year. China’s State Council Tariff Commission, which made the announcement, said it will continue to review exemption requests and announce new lists in the future.
The move comes as US and Chinese officials prepare to resume face-to-face talks in Washington in a bid to prevent further escalation in the damaging fight between the world’s top two economies. Both countries recently announced new rounds of tariffs on each other that either kicked in earlier this month or are expected to go into effect in the coming weeks.
This is a developing story.