China shows goodwill via tariff exemptions
Source:Global Times Published: 2019/9/11 22:13:40
China removed on Wednesday 16 categories of items from the list of US products that had faced extra tariffs, including shrimp and pawn seedlings, lubricating base oil and medical linear accelerators. The measure will benefit some companies from China and the US.
In accordance with its existing system, the US has successively removed eight batches of Chinese products from its tariff list.
For China, granting tariff exemptions on US goods is an innovation of the tariff system. This is the first time China has provided tariff exemptions since May. Subsequent lists will be declared in due time.
The exemption of some US products from the tariff list would effectively mitigate the impact of the US-launched trade war against China on involved Chinese companies. It is also a positive sign to Chinese people’s livelihood.
The China-US trade war has fully escalated with its impact clearly being felt by the two countries and the world. Beijing and Washington agreed to hold the 13th round of trade consultations in early October, saying they will keep working-level communication and work hard for making substantial progress in this round of talks. The two countries are at a crossroads either to make breakthroughs or to escalate the tensions until the situation spirals out of control.