China to grant tariff exemptions on 696 U.S. goods to support purchases
2020-02-19 14:02:01 [Print]
China will grant exemptions on retaliatory duties imposed against 696 U.S. goods, the most substantial tariff relief to be offered so far, as Beijing seeks to fulfill commitments made in its interim trade deal with the United States.
Tuesday's announcement comes after the Phase 1 trade deal between the two countries took effect on Feb. 14 and is the third round of tariff exemptions China has offered on U.S. goods.
China has committed to boosting its purchases of goods and services from the United States by $200 billion over two years as part of the agreement, and has already rolled back some additional tariffs on U.S. imports after the deal was signed.
U.S. goods eligible for tariff exemptions include key agricultural and energy products. Some medical devices and metals including copper ore and concentrates, copper scrap and aluminum scrap are also subject to exemption.
Firms can start submitting their applications on March 2, and any exemptions granted will be valid for one year.
Tuesday's announcement comes after the Phase 1 trade deal between the two countries took effect on Feb. 14 and is the third round of tariff exemptions China has offered on U.S. goods.
China has committed to boosting its purchases of goods and services from the United States by $200 billion over two years as part of the agreement, and has already rolled back some additional tariffs on U.S. imports after the deal was signed.
U.S. goods eligible for tariff exemptions include key agricultural and energy products. Some medical devices and metals including copper ore and concentrates, copper scrap and aluminum scrap are also subject to exemption.
Firms can start submitting their applications on March 2, and any exemptions granted will be valid for one year.
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