CHINA – China has exempted some US imports from its 125 per cent tariffs and is asking firms to identify critical goods they need levy-free, according to businesses that have been notified, in the clearest sign yet of Beijing’s concerns about the trade war’s fallout.
The dispensation, which follows de-escalatory statements from Washington, signals that the world’s two largest economies were prepared to rein in their conflict, which had frozen much of the trade between them and raised fears of a global recession.
Beijing’s exemptions, which business groups hope would extend to dozens of industries, pushed the U.S. dollar up slightly and lifted equity markets in Hong Kong and Japan.
“As a quid-pro-quo move, it could provide a potential way to de-escalate tensions,” said Alfredo Montufar-Helu, a senior adviser to the Conference Board’s China Centre, a think tank.
But, he cautioned: “It’s clear that neither the US nor China want to be the first in reaching out for a deal.”
China has not yet communicated publicly on any exemptions.
US President Donald Trump told TIME magazine in an interview that US-China talks were taking place on tariffs, and that Chinese President Xi Jinping had called him. Beijing has so far disputed the U.S. characterization of talks. (Reuters)
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Now you know who has power……and who St Lucia should align themselves with…… I like how China is moving