China exempts 16 US goods from additional tariffs

In a gesture of good will, China's Ministry of Finance announced Wednesday Beijing plans to exempt 16 types of US goods from additional tariffs, as part of the trade war with Washington.

As explained by the State Council Tariff Commission, the exemption will enter into effect from September 17, refunding 12 products on which tariffs were previously imposed, including shrimp, lubricating oil, and medical linear accelerators for anti-cancer therapies.

The Commission reported that it will continue to grant exemptions to importers who face difficulties in replacing certain US products, as it takes into account the severe economic damages businesses will face, the negative impact on the development of industries, employment, environmental protection and social welfare.

In fact, since September 2 and through October 18, the Commission will collect requests of domestic enterprises, associations and chambers of commerce requiring exemptions.

Some exemptions will be temporary and will be granted based on importers' interests.

On September 1, China and the United States activated another round of additional tariffs on their respective products in an escalation of their trade war that seems to have no end in sight.

Beijing implemented new tariffs on 5,000 US products worth $75 billion, in response to a similar US measure. The US is today applying high tariffs on more than two thirds of its imports from China.

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