China unveils lists of United States products to be excluded from additional tariffs

China’s Xi ‘Can’t Believe What Trump Says’ Regarding Trade War

The exemption will take effect on September 17 and be valid for a year through to September 16, 2020, it said.

"American companies continue to do well in China, but the trade conflict now shadows many businesses", said Eric Zheng, chairman of the trade association.

"The exemption could be seen as a gesture of sincerity towards the USA ahead of negotiations in October but is probably more a means of supporting the economy", Iris Pang of ING said in a report.

"I can't believe what President Trump says" concerning trade negotiations, Xi was quoted as telling Abe during a meeting on the fringe of the Group of 20 summit in Osaka.
Moreover, major USA imports, such as soybeans and pork, are still subject to hefty additional duties, as China ramped up imports from Brazil and other supplying countries.

Two lists of goods will be excluded from China's first round of tariff countermeasures against the U.S. Section 301 measures.

Products covered by Wednesday's exemptions include lubricants, insecticides, and whey and fish meal for animal feed. That will be applied to the products subject to additional tariffs on US$60 billion of American goods.

China's tariff retaliation strategy to date has focused heavily on curbing trade of agricultural and manufactured goods produced in US states key for President Donald Trump's re-election chances.


Nevertheless, some analysts view the move as a friendly gesture by China ahead of talks with the US.

Xi further complained to Abe that while the Trump administration has repeatedly criticized Beijing for supporting state-owned companies with subsidies, "the U.S.is also providing Boeing with subsidies", referring to the Chicago-based USA airplane manufacturer.

Some U.S. tariffs across approximately $263 billion worth of annual imports from China - originally planned for a rate of 10% - took effect at a rate of 15% on September 1, after USTR announced increases.

ING's Pang noted the United States had also exempted imports of 110 Chinese products from tariffs in July, including high-value products such as medical equipment and parts.

Trump has imposed or announced penalties on about $550 billion of Chinese products, or nearly everything the United States buys from China. Trump has warned China will face a tougher US negotiating stance if he is re-elected.

Further rounds of Chinese exemptions will be announced in due course, the ministry said.

Trade negotiators have said they will meet in Washington in early October, raising hopes that fresh negotiations could help ease tensions between the world's two biggest economies.

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