China Exempts Tariffs on $40B Worth of US Goods
Amid the growing concerns over a brewing trade war with the US, China has exempted its reciprocal tariffs on around $40 billion worth of US goods. The list of exemptions will cover around a quarter of imports from the United States, according to a Bloomberg report.
The decision was made to lessen the impact of the ongoing trade war on the Chinese economy. Moreover, a list has surfaced showing that more than 130 items, including US imports from the pharmaceutical and industrial chemicals industry, will be exempted from the import duty increase.
JUST IN:
— Watcher.Guru (@WatcherGuru) May 2, 2025China quietly exempts tariffs on $40 billion worth of US goods, Bloomberg reports. pic.twitter.com/OWldSua56z
Also Read: China Evaluates US Talks as 125% Tariff Clock Ticks Down
China Exempts a Quarter of US Imports From Reciprocal Tariffs
Since the United States unveiled sweeping 10% tariffs on all nations, tensions have begun to rise. Specifically, there have been concerns that both the US and China are on the verge of a trade war. Those concerns were quelled when the White House announced its import tax on China would reach heights of 245%.
With both nations set to be impacted, China has announced it is exempting its reciprocal tariffs on $40 billion worth of US goods. Indeed, in an effort to shield its economy, it has reportedly exempted a quarter of imports from the United States. The list has been growing, with pharmaceuticals joining ethane import exemptions that were put in place in April.
Also Read: Bessent: China Must Act to End Trade War—Tariff Relief Hinges on Beijing
According to Bloomberg, a list of 131 products has surfaced, all of which are exempt from tariffs. Although the list has not been verified and its origins are unknown, half a dozen companies in China were able to import US goods without paying the duty increase.
The list constitutes around 24% of China’s imports from the United States last year. Moreover, the decision mirrors one made by US President Trump and his administration. He announced that US expectations would be put in place on around $102 billion worth of Chinese imports. Both sides appear to be hoping to protect their economies while a resolution is being discussed.
Read More
China Exempts Tariffs on $40B Worth of US Goods
Amid the growing concerns over a brewing trade war with the US, China has exempted its reciprocal tariffs on around $40 billion worth of US goods. The list of exemptions will cover around a quarter of imports from the United States, according to a Bloomberg report.
The decision was made to lessen the impact of the ongoing trade war on the Chinese economy. Moreover, a list has surfaced showing that more than 130 items, including US imports from the pharmaceutical and industrial chemicals industry, will be exempted from the import duty increase.
JUST IN:
— Watcher.Guru (@WatcherGuru) May 2, 2025
Also Read: China Evaluates US Talks as 125% Tariff Clock Ticks Down
China Exempts a Quarter of US Imports From Reciprocal Tariffs
Since the United States unveiled sweeping 10% tariffs on all nations, tensions have begun to rise. Specifically, there have been concerns that both the US and China are on the verge of a trade war. Those concerns were quelled when the White House announced its import tax on China would reach heights of 245%.
With both nations set to be impacted, China has announced it is exempting its reciprocal tariffs on $40 billion worth of US goods. Indeed, in an effort to shield its economy, it has reportedly exempted a quarter of imports from the United States. The list has been growing, with pharmaceuticals joining ethane import exemptions that were put in place in April.
Also Read: Bessent: China Must Act to End Trade War—Tariff Relief Hinges on Beijing
According to Bloomberg, a list of 131 products has surfaced, all of which are exempt from tariffs. Although the list has not been verified and its origins are unknown, half a dozen companies in China were able to import US goods without paying the duty increase.
The list constitutes around 24% of China’s imports from the United States last year. Moreover, the decision mirrors one made by US President Trump and his administration. He announced that US expectations would be put in place on around $102 billion worth of Chinese imports. Both sides appear to be hoping to protect their economies while a resolution is being discussed.
Read More