China will exempt some goods from the United States from raising duties | FREE NEWS

China will exempt some goods from the United States from raising duties

The list of American goods exempted in China from the increase in export duties did not include such important products for the US economy as soybeans, corn, and pork.

The Ministry of Finance of China on Wednesday, September 11 released the list of American goods that will not be affected by the increase in duties on the Chinese market. It includes 16 product categories, including lubricating oils, fish products, linear accelerators for radiation therapy and anti-cancer drugs. On the other hand, such important products for American exports as pork, corn, and soybeans were not included in the list.

Reporting on Wednesday on China’s refusal to impose increased duties on certain categories of American goods, the Chinese newspaper The Global Times quoted Baia Ming, an employee of the Chinese Academy of international trade and economic cooperation, who calls the move “a gesture of goodwill of China, anticipating a new round of negotiations, and a new chance to end the trade war, which Beijing provides to Washington.”

At the same time, the newspaper notes that the State Council of China will continue to work on the list of goods from the United States, which will not affect the increase in export duties, and will publish its updated version “at the appropriate time.” Increased duties on us goods will be introduced in China on September 17, 2019, for one year.

It is expected that in October 2019, representatives of Beijing and Washington will meet again for talks on the trade conflict between the two countries, which has been going on for more than a year.