China exempts some USA imports from extra tariffs

Traders work on the floor at the New York Stock Exchange Sept 9 2019

But in the statement, the commission said it was also considering further exemptions.

The first list includes 12 items and allows affected import enterprises to apply for refunds of collected duties within six months from Wednesday.

"There are still many uncertainties in the coming trade talks", she said, adding: "An exemption list of just 16 items will not change China's stance".

China introduced Wednesday it will exempt 16 classes of merchandise from U.S. tariffs, forward of a contemporary spherical of commerce talks subsequent month.

The American Chamber of Commerce in Shanghai said just 47 percent said they expected to increase their investments in China in 2019 - down from 62 percent previous year - while three-quarters of businesses surveyed said they opposed the use of punitive tariffs by the United States to force China into a trade deal.

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Wednesday's announcement comes before Chinese trade deputies are expected to meet with their USA counterparts in mid-September in Washington. The rest of the 15% tariffs applying to this tranche of goods will take effect on December 15. Exemption list 2 covers products like release agent, whey for fodder, Iso-alkane solvent, and lubricating base oil. That will be applied to the products subject to additional tariffs on $60 billion of American goods. The U.S. slapped a 15% levy on $112 billion worth of Chinese imports, while China hit a variety of American products with duties between 5% and 10%.

The exemption will take effect on September 17 and will be valid for a year through to September 16, 2020.

Analysts say that with its duties on soybeans and US -made cars, China is taking aim at a key political support base of Trump, mainly the factories and farms across the Midwest and South at a time of receding momentum in the world's top economy.

The U.S. Chamber of Commerce and China's Center for International Economic Exchanges on September 10 started a high-level meeting to discuss leading economic and commercial policy issues in U.S.

Chinese President Xi Jinping voiced distrust and displeasure to Japanese Prime Minister Shinzo Abe regarding U.S. President Donald Trump and the ongoing trade war with the United States, according to a report by Kyodo News. "The time is now to strike a deal that addresses the U.S.' legitimate concerns about market access, forced technology transfer, subsidies and digital trade, while concurrently removing punitive and retaliatory tariffs".

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