China forms list of US goods to be exempted from 125% tariff - Reuters
Despite Beijing's public statements about tough confrontation with the United States in the tariff war, the Chinese authorities are making concessions for their own business.
This is reported by Reuters, Censor.NET informs.
China is forming a "white list" of American goods that can be exempted from 125% of duties.
These exemptions apply to products critical to national production, including pharmaceuticals, microchips, and aircraft engines. Companies are notified individually by local authorities about the possible abolition of duties.
China is also consulting with businesses to assess the impact of the tariff war. Authorities are meeting with foreign companies and conducting surveys among manufacturers to gather data on the economic impact of the customs policy.
Despite their public intransigence, these actions demonstrate Beijing's desire to reduce economic tensions and ensure continuity of supply, particularly from the United States, where China still needs important technologies. A striking example was the recent authorization to import ethane from the United States due to the lack of alternatives.
US duties against China
It is worth noting that this is not the first wave of duties imposed by the United States on China. First, the US imposed 20% duties on Beijing, then added another 34%.
After that, China imposed duties on American goods, and the day before Trump threatened additional tariffs of 50%, and he kept his promise.
The Trump administration raised duties on Chinese goods to 104% on April 9.
China responded to Trump's new tariffs by raising tariffs on American goods to 84%. After that, Trump immediately raised the tariff rate for China to 125%.
Earlier, Trump also called China's decision to impose mirror 34 percent tariffs on all imports from the United States on April 10 a mistake.
