China extends tariff exemptions on 81 products from U.S
Reuters
Published Sep 16, 2021 08:40AM ET
Updated Sep 16, 2021 09:31AM ET
BEIJING (Reuters) -China will extend tariff exemptions for 81 products imported from the United States by seven months, the finance ministry said in a statement published on Thursday.
China has routinely made such extensions as part of an initial agreement to end a bruising trade war between the world's two biggest economies.
The items had received exemptions from retaliatory tariffs imposed by China on U.S. goods as countermeasures to U.S. Section 301 action, the ministry said.
The exemptions for items including some shrimp and electric vehicle batteries had been due to expire on Thursday but had now been extended until April 16, 2022, it added.
The tit-for-tat trade war erupted during former U.S. President Donald Trump's term in office and saw tariffs slapped on billions of dollars worth of goods.
A Phase 1 interim trade deal agreed in January 2020 called for China to boost purchases of U.S. exports by $200 billion over two years. It expires at the end of the year but Beijing is far behind the target, partly because of the COVID-19 pandemic.
The last extension granted by China was in May this year, maintaining tariff waivers on products including gold ore and rare earth metal ore.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.