China quietly exempts US goods from tariffs, covering around $40 billion worth of imports, in an effort to soften the blow of the trade war on its own economy.
Chinese officials are quietly drawing up a “whitelist” of critical U.S. goods that importers rely on to exempt them from Beijing’s retaliatory tariffs, Reuters reported, citing unnamed people familiar with the matter.
The news adds to a growing number of reports from China of businesses discovering that tariffs have been waived on some goods, such as certain semiconductor and integrated circuit products.
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It also shows how, underneath its tough rhetoric, Beijing is trying to mitigate the impact of the U.S. trade war on its export-reliant economy, the world’s second-largest, which was already under pressure
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