Trump Pleased that China Announced Exemption of 16 U.S. Products from Additional Tariffs Ahead of Trade Talks Between Nations

  • President Trump was pleased on Wednesday when China announced that it would “exempt some U.S. anti-cancer drugs and other goods from its tariffs and Washington announced a delay to scheduled tariff hikes on billions worth of Chinese goods.”
  • The exemptions from Beijing “and Washington’s delay came days ahead of a planned meeting aimed at defusing a trade war between the world’s two largest economies.”
  • Trump told reporters that “China’s decision to exempt some U.S. goods was a big move by Beijing and a positive gesture before trade negotiators from both countries meet in Washington.”
  • On Wednesday, the Ministry of Finance issued a statement on its website that China was announcing “its first batch of tariff exemptions for 16 types of U.S. products, including some anti-cancer drugs and lubricants, as well as animal feed ingredients, whey and fish meal.”
  • In May, Beijing said “that it would start a waiver program, amid growing worries over the cost of the protracted trade war on its already slowing economy.”
  • Trump said: “They made a couple of moves … that were pretty good. I think it was a gesture, okay? But it was a big move.”
  • Also, on Wednesday, Trump tweeted “that the United States had agreed to delay increasing tariffs on $250 billion worth of Chinese imports from Oct. 1 to Oct. 15 as a gesture of good will. The tariffs were set to increase to 30% from 25% on the goods.”
  • Trump also “said he hoped to reach a trade agreement with China following more than a year of tit-for-tat exchanges of tariffs that have roiled global markets.”
  • Trump added: “I deal with them and I know them and I like them. I hope we can do something.”
  • According to reports, “deputy trade negotiators are due to meet in Washington in mid-September, with minister-level talks to follow in October. Exact dates for the meetings have not been released.”

Reference Links

  • Reuters: U.S., China grant trade concessions ahead of fresh talks READ
  • USA TODAY: Trump says October tariffs on Chinese imports will be delayed ‘as a gesture of good will’ READ
  • BBC: China scraps some US tariffs ahead of trade talks READ
  • New York Post: China to exempt 16 US products from tariffs ahead of trade talks READ

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