China said on Tuesday (18.02.2020) that it would accept applications to grant new tariff exemptions to 696 products imported from the United States, including Key agricultural and energy products such as pork and beef, soybeans, liquefied natural gas and crude oil.
The waivers, which are the third and largest package China has granted so far since the start of the trade dispute with the United States, come a month after the signing of Phase 1 of the trade agreement between Washington and Beijing. China has pledged to increase its purchases of goods and services from the United States by $200.000 billion over two years.
Other products subject to exemption from additional tariffs imposed during the escalation of the bilateral trade dispute are: Denatured ethanol and certain batches of wheat, corn and sorghum. Some medical devices and metals, such as copper ore and copper concentrates, copper scrap and aluminum scrap, are also subject to exemptions, China's Ministry of Finance said in a statement.
The exemptions come amid a coronavirus epidemic that has severely disrupted the world's second-largest economy. Authorities across the country have imposed major travel and transportation restrictions to curb the spread of the virus, which has killed nearly 1.900 people and infected more than 70.000 in the country.
U.S. officials and analysts have raised questions about China's ability to meet purchase commitments specified in the Phase 1 trade deal due to the coronavirus.
Source: Reuters
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