BEIJING—China will grant exemptions on retaliatory duties imposed against 696 U.S. goods, the most substantial tariff relief to be offered so far, as Beijing seeks to fulfill commitments made in its interim trade deal with the United States.
The announcement on Feb. 18 comes after the Phase 1 trade deal between the two countries took effect on Feb. 14 and is the third round of tariff exemptions China has offered on U.S. goods.
China has committed to boosting its purchases of goods and services from the United States by $200 billion over two years as part of the agreement, and has already rolled back some additional tariffs on U.S. imports after the deal was signed.
U.S. goods eligible for tariff exemptions include key agricultural and energy products such as pork, beef, soybeans, liquefied natural gas and crude oil, which were subject to extra tariffs imposed during the escalation of the bilateral trade dispute.
The coronavirus outbreak that emerged late last year in China has raised concerns about its ability to meet the purchasing targets, however. Authorities throughout the country imposed major restriction on travel and transportation to curb the spread of the virus.
The containment efforts have kept factories shut or operating with drastically reduced staff, hitting production. The public has also been discouraged from leaving their homes or going to public places, also stunting consumption.
(Excerpt) Read more at theepochtimes.com ...
------------
Tariffs never work. Trump is going to ruin the US economy. Blah, blah, blah......Funny how this much stated view by leading economists has just about faded away to nothing....Trump IS a fucking genius especially when it comes to our economy....now how does the party of INFANTICIDE fight all this winning?
The question now is how does the left TANK THE STOCK MARKET WITHOUT EVERYONE KNOWING THAT THEY ARE DOING IT!!!!!
The announcement on Feb. 18 comes after the Phase 1 trade deal between the two countries took effect on Feb. 14 and is the third round of tariff exemptions China has offered on U.S. goods.
China has committed to boosting its purchases of goods and services from the United States by $200 billion over two years as part of the agreement, and has already rolled back some additional tariffs on U.S. imports after the deal was signed.
U.S. goods eligible for tariff exemptions include key agricultural and energy products such as pork, beef, soybeans, liquefied natural gas and crude oil, which were subject to extra tariffs imposed during the escalation of the bilateral trade dispute.
The coronavirus outbreak that emerged late last year in China has raised concerns about its ability to meet the purchasing targets, however. Authorities throughout the country imposed major restriction on travel and transportation to curb the spread of the virus.
The containment efforts have kept factories shut or operating with drastically reduced staff, hitting production. The public has also been discouraged from leaving their homes or going to public places, also stunting consumption.
(Excerpt) Read more at theepochtimes.com ...
------------
Tariffs never work. Trump is going to ruin the US economy. Blah, blah, blah......Funny how this much stated view by leading economists has just about faded away to nothing....Trump IS a fucking genius especially when it comes to our economy....now how does the party of INFANTICIDE fight all this winning?
The question now is how does the left TANK THE STOCK MARKET WITHOUT EVERYONE KNOWING THAT THEY ARE DOING IT!!!!!