Posted on 02/18/2020 10:26:36 AM PST by SeekAndFind
BEIJING—China will grant exemptions on retaliatory duties imposed against 696 U.S. goods, the most substantial tariff relief to be offered so far, as Beijing seeks to fulfill commitments made in its interim trade deal with the United States.
The announcement on Feb. 18 comes after the Phase 1 trade deal between the two countries took effect on Feb. 14 and is the third round of tariff exemptions China has offered on U.S. goods.
China has committed to boosting its purchases of goods and services from the United States by $200 billion over two years as part of the agreement, and has already rolled back some additional tariffs on U.S. imports after the deal was signed.
U.S. goods eligible for tariff exemptions include key agricultural and energy products such as pork, beef, soybeans, liquefied natural gas and crude oil, which were subject to extra tariffs imposed during the escalation of the bilateral trade dispute.
The coronavirus outbreak that emerged late last year in China has raised concerns about its ability to meet the purchasing targets, however. Authorities throughout the country imposed major restriction on travel and transportation to curb the spread of the virus.
The containment efforts have kept factories shut or operating with drastically reduced staff, hitting production. The public has also been discouraged from leaving their homes or going to public places, also stunting consumption.
(Excerpt) Read more at theepochtimes.com ...
China must be having incredible food-price inflation. They had a pig epidemic before coronavirus which was increasing the price of all meats. Now imported goods are piled up at ports, or not being shipped at all. Counties and provinces in quarantine can’t conduct regular food distribution.
Planting season will be coming soon for the main grain producing areas north of the Yangtze River. How will they manage?
You are right. Not only food inflation, China also needs medical devices.
FROM THE ARTICLE:
Products subject to exemption on additional tariffs imposed include denatured ethanol and wheat, corn and sorghum. Some medical devices and metals including copper ore and concentrates, copper scrap and aluminum scrap are also subject to exemption.
Tariffs never work. Trump is going to ruin the US economy. Blah, blah, blah.
Smells like winning!
What is not being properly acknowledged is how skillfully and strategically Trumps economic, military and trade people are working together implementing the tariffs
Masterful execution by some really sharp unsung heros
BTW, this dude is walking fine and then just collapses
Sounds like more of that winning the President was talking about.
Especially with a locust plague of biblical proportions on the way after wreaking havoc in Africa.
Locust plague reaches coronavirus-hit China after wreaking havoc across Africa
Chilling footage has shown thousands of insects swarming the skies at a border in China. They reportedly come from a plague that has devastated east Africa in recent weeks
https://www.dailystar.co.uk/news/world-news/locust-plague-reaches-coronavirus-hit-21513111
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