China keeps penalties on United States pork, soy, eases some others

China keeps penalties on United States pork, soy, eases some others

China keeps penalties on United States pork, soy, eases some others

China and the USA have been embroiled in a year-long trade war that has seen the two sides slap punitive tariffs on hundreds of billions of dollars in two-way trade.

The exemptions will become effective on September 17 and be valid for a year, according to the Customs Tariff Commission of the State Council, which released two lists that include seafood products and anti-cancer drugs.

Applications for the second tranche of exclusions started on September 2 and will close on October 18, China's finance ministry said earlier on its website.

The exemption could be seen as a gesture of sincerity towards the United States ahead of negotiations in October but is probably more a means of supporting the economy.

"I can't believe what President Trump says" concerning trade negotiations, Xi was quoted as telling Abe during a meeting on the fringe of the Group of 20 summit in Osaka.
Punitive duties on soybeans, the biggest USA export to China, and thousands of other items were left unchanged.

Just last week, another round of tariffs on Chinese imports went into effect, placing duties on almost all goods imported into the USA, with another round coming on December 15 so as not to put a damper on consumer spending over the holidays.

Amazon announces 30000 job openings paying $15 or more in the US
Amazon will also begin hiring tens of thousands of temporary workers in the coming weeks in preparation of the holiday season. And the company is moving into more industries, including health care and advertising.

The exemptions will apply to USA goods including some anti-cancer drugs and lubricants, as well as the animal feed ingredients whey and fish meal, the Ministry of Finance said in a statement on its website on Wednesday.

These products will be exempt from additional tariffs although existing tariffs will not be subject to refunds.

Top Chinese negotiators will travel to Washington for talks in the coming weeks, and lower-level officials will also hold discussions this month.

The long-running trade war between China and the United States has seen them swap tariffs on goods worth hundreds of billions of dollars.

Both sides imposed fresh tit-for-tat tariffs on Sept 1. Trump has warned China will face a tougher USA negotiating stance if he is re-elected.

Trump has imposed or announced penalties on about $550 billion of Chinese products, or nearly everything the United States buys from China. The Ministry of Finance's announcement Wednesday, Sept. 11, 2019 came ahead of October talks aimed at ending the fight over trade and technology that threatens global economic growth.

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