After Joe Biden took over the reins of government, the tariff issue between China and the United States did not show significant development. In addition, the conflict between the two countries has also not been so tense since the end of 2020 even though China has not been able to meet previous agreements.
China previously promised to buy an additional $ 200 billion in goods and services over two years under a phase 1 agreement signed by Trump in January 2020, but due to the pandemic crisis, Beijing is far from reaching its target for last year.
At the same time the two countries have also taken measures to reduce conflicts such as tariff exemptions.Although not much development, market players continue to follow any new signs.
Most recently, China made an announcement that it would extend tariff exemptions for 79 products imported from the United States that would end on May 18, the finance ministry said in a notice published on Monday.
The exemption will be extended until December 25. The product originally received an exemption from counter -tariffs imposed by China on U.S. goods. in response to a U.S. Section 301 action.
The White House earlier in the year said it would review all national security measures implemented by former President Donald Trump, including a phase 1 trade agreement with Beijing.
