China to exempt new US products from tariffs
The list includes silicon platelets, disinfectants for medical use and so-called "rare earths"
A totoal of 79 products imported from the United States will be excluded from additional customs duties by China starting May 19 and the measure will last for one year. This was declared on Tuesday by the Chinese government after President Donald Trump urged Beijing to honor its trade commitments.
The list of new products includes some silicon platelets used in electronics, disinfectants for medical use and the so-called “rare earths”, essential minerals in high technology, as reported by the Chinese Ministry of Finance in its publication.
The head of the financial portfolio did not specify the quantity of the products imported by China last year or the amount represented by these exemptions. What is known is that last February the Asian country had announced a similar measure for 65 products manufactured in the United States, including parts for aviation and medical equipment.
The measures take place at a time when the Asian giant resumes its industrial activity, which was paralyzed since the beginning of the year due to the pandemic.
For their part, the Chinese and US negotiators promised this Friday, during a telephone interview, to apply their “phase one” agreement signed in January after maintaining the trade war for two years with punitive customs tariffs.
K.Villarroel
Source: Finanzasdigital
