China has prepared a list of US-made goods that will be exempt from 125% tariffs and is “quietly” notifying companies about it, Reuters reports, citing two sources.
According to one of the sources, who works for a pharmaceutical company that sells US drugs, Chinese authorities have contacted his company privately about the list. He adds that the company has previously asked for tariff exemptions because it relies on US technology for some of its products.
According to Reuters, authorities have also asked companies to identify critical products that they would like to import duty-free. However, the existence of the so-called “white list” has not been disclosed before.
Another source said that in eastern China, authorities have asked a group of foreign business lobbyists to “report any critical situations caused by tariff tensions” so that they can assess them. In addition, the source said, textile companies and semiconductor manufacturers in the southeast of the country were sent a survey to assess the impact of tariffs imposed by the United States and China in response on business.
This approach allows Beijing, which has repeatedly said it is ready to fight to the end if the United States does not lift its 145 percent tariffs, to maintain a public position, but at the same time take practical steps to prepare concessions, Reuters notes.
The trade war that Donald Trump started against most of the world with the introduction of tariffs on April 2 has had the greatest impact on China. For every tariff increase from Washington, Beijing responded in kind, and as a result, the combined US tariffs on goods from China now amount to 145%. The size of Chinese retaliatory tariffs has reached 125%. Beijing said it “does not want, but is not afraid to fight” in the trade war. However, China has eventually exempted a number of American goods from tariffs, including some pharmaceuticals, microchips and aircraft engines. China also lifted duties on imports of American ethane, the US being the only supplier.
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