China made US concessions in trade war

The Chinese authorities are ready to make concessions in the trade confrontation with the United States, freeing a number of American goods from import duties. The corresponding decision was made by the Chinese government.

Фото: Depositphotos

«Lenta.ru report” notes that some agricultural commodities, including soybeans and pork, will be exempt from the restrictions. To import them into China duty-free, local companies will have to apply.

The decision was made in connection with the growing domestic demand for these products. So, Chinese companies have already purchased a certain amount of soybeans and pork.

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The current easing was another in the framework of Beijing’s policy of easing duties in anticipation of the first phase of a deal with the United States, the preparation for which was first announced in October at negotiations between the countries.

On December 5, Chinese representatives in talks with the United States said that the process was moving "in accordance with the intended course," and the parties continued "close cooperation." At the same time, US President Donald Trump previously allowed the transaction to be postponed after the presidential election in the country, scheduled for November 2020.

As reported by ForumDaily:

• In August, 2018, USA introduced new import duties in the amount of 25% for goods from China. The list includes a number of Chinese products with a total value of 16 billion dollars. These duties are the second part of the fees on goods imported from the PRC in the total amount of 50 billion. The first part was introduced on July 6 and concerned goods for 34 billion dollars.
• Trump warned China that in the case of mirror measures by Beijing, duties could be further extended to goods worth 267 billion dollars. Thus, taking into account the existing measures, duties will be imposed on almost the entire volume of Chinese imports in the United States, which exceeds 500 billion dollars a year.
• 20 February 2019 of the Year Trump demanded that China maintain a stable value of the yuan as part of trade negotiations between the two largest economies in the world. In particular, Washington hoped that Beijing would abandon the artificial devaluation of its currency in response to the introduction of US tariffs.
• 11 MAY Trump ordered to introduce customs duties on importing Chinese goods into the United States by about 300 billion more.
• Chinese authorities announced the on the introduction of increased duties on a number of categories of goods from the United States. In accordance with the decision of the Commission of the State Council on Customs Duties, from June 1 to 2019, the rates of duties on a number of goods imported from the United States with a total value of $ 60 billion will be increased and will total from 10 to 25%.

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