China Quietly Exempted $40B of US Goods from Tariffs
China has created a list of U.S.-made products that would be exempted from its 125% tariffs and is quietly notifying companies about the policy, two people familiar with the matter said, as Beijing seeks to ease the impact of its trade war with Washington.
China has already granted tariff exemptions on select products including select pharmaceuticals, microchips and aircraft engines and was asking firms to identify critical goods they need levy-free, Reuters reported on Friday. However, the existence of a so-called ‘whitelist’ had not been previously reported.
The quiet approach allows Beijing, which has repeatedly said it is willing to fight till the end unless the U.S. lifts its 145% tariffs, to maintain its public messaging while privately taking practical steps to provide concessions.
It was not immediately clear how many and which products have been included on the list, which authorities have not shared publicly, the two sources said, declining to be named as the information was not public.
China has already granted tariff exemptions on select products including select pharmaceuticals, microchips and aircraft engines and was asking firms to identify critical goods they need levy-free, Reuters reported on Friday. However, the existence of a so-called ‘whitelist’ had not been previously reported.
The quiet approach allows Beijing, which has repeatedly said it is willing to fight till the end unless the U.S. lifts its 145% tariffs, to maintain its public messaging while privately taking practical steps to provide concessions.
It was not immediately clear how many and which products have been included on the list, which authorities have not shared publicly, the two sources said, declining to be named as the information was not public.
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