US exempts some devices from China tariffs

Category : USA News
Updated On : July 11, 2019 01:41 AM
By Indian Times Daily

The Trump administration will exempt 110 Chinese products, from medical equipment to key capacitors, from hefty tariffs, it said on Tuesday, offering relief to some U.S. firms which have said the taxes harm their bottom lines.

The Trump administration has announced a significant relaxation of its restrictions on US companies selling to Huawei, saying the ban will only apply to products that are related to national security.

The relatively narrow exemption list will provide relief from 25% tariffs the United States slapped on $34 billion of Chinese imports on July 6, 2018, one of the first salvos in a bilateral trade battle that has roiled global supply chains and cost billions. The retroactive exclusions are effective as of that date, and extend for a year from Tuesday.

U.S. and Chinese negotiators are scheduled to resume talks this week after a two-month hiatus, a year since their tit-for-tat tariff battle began. Washington is pushing Beijing to remedy what U.S. officials see as decades of unfair and illegal trading practices.

The waivers by the U.S. Trade Representative’s office follow another 1,000 exemptions granted in the past year. The United States has levied tariffs on $250 billion worth of Chinese imports and has threatened to slap taxes on another $300 billion.

 

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