China exempts 16 types of United States goods from additional tariffs

Galtero Lara
Setiembre 11, 2019

American businesses are increasingly pessimistic about their prospects in China as the United States trade war rumbles on, with growing numbers of companies expecting their revenues and investment in the local market to shrink, a survey said on Wednesday.

Indeed, the exempted list pales in comparison to over 5,000 types of USA products that are already subject to China's additional tariffs. "Most of these included medical equipment and parts, which are high-value products".

"If exemptions are viewed as a form of concession, then the U.S. has given more".

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

"American companies continue to do well in China, but the trade conflict now shadows many businesses", said Eric Zheng, chairman of the trade association. "An exemption list of just 16 items will not change China's stance", she said.

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"Our house view is that the two countries are unlikely to reach a deal this year".

President Donald Trump on Friday said the weight of the protracted trade war is damaging China more than the US.

The ministry said items on the two tariff exemption lists posted on its website will not be subject to additional duties imposed by China on US goods "as countermeasures to US Section 301 measures", it said.

In all, the world's two largest economies have slapped tit-for-tat tariffs on hundreds of billions of dollars worth of goods in a bitter trade war that has dragged on for well over a year and raised the spectre of a global recession.

Wednesday's announcement comes before Chinese trade deputies are expected to meet with their US counterparts in mid-September in Washington.

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