Ahead of US-China trade talks, China waives import tariffs on some US products

Beijing [China], Sep 11 : China on Wednesday waived import tariffs on 16 US products including shrimp, fish meal and cancer treatment drugs.

This is for the first time Beijing has issued such exemptions since the US-China trade war began.

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, CNN reported.

The exemption will take effect on September 17 and remain in place until September 16, 2020, the Customs Tariff Commission of the State Council said in a statement, South China Morning Post reported.

The commission also said that it will continue to conduct the work of tariff exemption on US goods and will announce follow-up waiver lists at appropriate times.

This comes ahead of the next round of face-to-face talks between US and Chinese officials in Washington. However, the analysts pointed out that the exemption list didn't include major goods subject to tariffs, like soybeans or meat.

Since July, US and China have been engaged in a tariff dispute after the world's two largest economies failed to resolve Washington's concerns about on alleged China's intellectual property theft and trade deficit.

According to the Chinese Ministry of Commerce, the next dialogue to resolve trade disputes between China and the United States will be held in October in Washington.

The ministry in a statement added that both sides agreed to make concrete efforts to create positive conditions for continued dialogue.

(ANI | 7 months ago)

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Ahead of US-China trade talks, China waives import tariffs on some US products