Posted on 02/21/2020 3:55:55 AM PST by Oldeconomybuyer
BEIJING -- China on Friday suspended more punitive tariffs on imports of U.S. industrial goods in response to a truce in its trade war with Washington that threatened global economic growth.
Financial markets have welcomed announcements by both sides of reductions in penalties on each other’s goods, though they have yet to resolve much of the conflict that erupted in 2018 over Beijing’s technology ambitions and trade surplus.
Goods affected by the latest reduction include industrial components and medical and factory equipment, according to the Finance Ministry. It gave no details of the value of goods affected but said penalties were suspended for one year, effective Feb. 28.
In an earlier tariff cut, China announced Feb. 6 it would reduce duties on $75 billion of U.S. goods as part of a trade truce with Washington.
(Excerpt) Read more at apnews.com ...
I’m guessing the US knows that the ChicComs are behind this virus and we are using it as leverage.
They are not producing so much and they are going to be in a world of hurt soon if they don’t get goods coming into their coutnry.
They badly need food.
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