China has created a "white list" of goods manufactured in the United States that will be exempt from 125 percent duties. This is reported by Reuters, writes UNN.
Details
According to Reuters, citing its own sources, Beijing is thus seeking to mitigate the consequences of its trade war with Washington.
In particular, China has already exempted some products from duties, including some pharmaceuticals, microchips and aircraft engines. It has also asked companies to identify critical goods they need without duties. However, the existence of the so-called "white list" has not been previously reported.
According to two Reuters sources, it is still unclear exactly how many products and which ones, because the authorities do not disclose this information.
Instead, the authorities are privately contacting companies and informing them about the existence of a list of product categories that will be exempt from duties.
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One source said that on Monday, the Shanghai Pudong district government contacted the company about the list, adding that the firm had previously lobbied for exemptions from duties, amid the fact that it uses American technology to manufacture some of its products.
"We still need to obtain many technologies from the United States," the source said.
Another source said that some companies have been offered to contact the authorities privately to find out whether their imported products are covered by the exception.
The list of tax-exempt products also seems to be growing. For example, China has abolished import duties on ethane from the United States.
The largest ethane processors have already asked Beijing to abolish duties, because the United States is the only supplier.
Let us remind you
Earlier, Reuters reported that Chinese Ambassador to the United States Xie Feng called on the United States to end the trade war, but noted that China is "ready to respond in kind to the escalation of the trade war."