China announces tariff exemptions on 16 categories of U.S. products

China announced tariff exemptions on 16 categories of goods imported from the U.S., as negotiations to end the countries’ trade war are set to resume.

China on Wednesday announced tariff exemptions on 16 categories of goods imported from the U.S., as negotiations to end the countries’ trade war are set to resume.

U.S. products exempted from Chinese tariffs include lubricating oil, anti-cancer drugs and some solvents, according to a statement by the Chinese Finance Ministry. The exemptions come as Chinese and U.S. trade teams have agreed to resume negotiations in early October to end their year-long trade war that is slowing the world economy.Earlier this month, the U.S. imposed 15-per-cent tariffs on 112 billion dollars’ worth of Chinese goods, including televisions, books, nappies and sports shoes.

At the same time, Chinese tariffs of 5 and 10 per cent targeting around 75 billion dollars of U.S. goods came into force.of unfair trade practices, intellectual property theft and unequal access to the Chinese market for foreign and domestic firms.

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