China will grant new tariff exemptions to US products
The Asian country has pledged to increase its purchases of goods and services from the United States by US $ 200,000 million
One month after the signing of the first phase of the trade agreement between Washington and Beijing, China announced that it would accept applications to grant new tariff exemptions to 696 items imported from the United States, which include agricultural and energy products such as pork and beef, soy, liquefied natural gas and crude oil.
Other products added to the list subject to the exemption of additional tariffs are: denatured ethanol and certain items of wheat, corn and sorghum, in addition to some medical devices and metals such as copper mineral and copper concentrates, aluminum scrap, China’s Finance Minister said in a statement.
For its part, the Asian country has pledged to increase purchases of goods and services from the United States by US $ 200,000 million over the next two years.
Despite the commitment, some US leaders and analysts doubt the ability of the Asian giant in fulfilling the exemption, due to the delicate situation of its economy, which has been seriously hit by the coronavirus.
In this regard, authorities throughout the country imposed significant restrictions on travel and transportation to stop the spread of the virus, which has killed almost 1,900 people and infected more than 70,000 in the country.