China Exempts Additional Tariffs on 65 US Items Starting from the 28th

[Asia Economy Reporter Son Sunhee] China will exempt some of the additional tariffs imposed on US products during the US-China trade war starting from the 28th.

On the 21st, China's Ministry of Finance announced this decision of the State Council Tariff Commission on its website. The number of items exempted from additional tariffs is 65. Among these, China decided not to impose additional tariffs for one year on 55 items, including 'aircraft autopilot system parts,' and to refund the additional tariffs already paid.

For 10 items, including temperature sensors, additional tariffs will not be imposed, but tariffs already collected will not be refunded.

China stated, "We will continue the process of exempting additional tariffs" and "will announce a follow-up exemption list at an appropriate time."

This announcement from China came amid expectations of a severe impact on economic growth due to the spread of the novel coronavirus infection (COVID-19).

This content was produced with the assistance of AI translation services.