China calls on the US to "completely abolish" mutual tariffs

The Chinese Ministry of Commerce has called on the United States to "take a serious step" and completely abolish the customs restrictions imposed as part of the trade war between the two countries.

This is reported by AFP, writes UNN.

Details

We call on the United States (...) to take a serious step to correct its mistakes, completely abolish the wrong practice of mutual duties and return to the right path of mutual respect.

In the midst of a trade war with China, which is causing concern in financial markets, on Friday the United States changed its position by exempting smartphones, computers and other electronic products from recent large customs duties imposed by President Donald Trump.

The Chinese Ministry of Commerce called this step "a small step", adding that it "assesses its impact."

According to a memorandum from the US Customs Service on Friday evening, these exceptions apply, in particular, to electronic products imported into the United States from China, which has been subject to monumental customs duties of 145% since mid-year. The American technology giant Apple, for example, produces its iPhones in China.

Let us remind

Bloomberg reported that the administration of US President Donald Trump exempted smartphones, computers and other electronics from duties.

According to the information, the exceptions narrow the scope of application of duties, excluding goods from 125% duty for China and a basic 10% global duty for almost all other countries.