The current respite from the US follows China’s tariff exemptions for 16 types of US products, including anti-cancer drugs and lubricants as well as ingredients such as whey and fish meal used in animal feed, the Chinese Finance Ministry posted on its website on Sept 11. This comes after Chinese President Xi Jinping’s comments in May to start a waiver programme as the cost of the protracted trade war with the US slowed its economy.
SINGAPORE (Sept 13): US President Donald Trump says he will delay increasing tariffs on US$250 billion ($344 billion) worth of Chinese goods from the initially intended date of Oct 1 to Oct 15, “as a gesture of goodwill”. Taking to Twitter on Sept 11, Trump said the postponement was done “at the request of the Vice-Premier of China, Liu He, and due to the fact that the People’s Republic of China will be celebrating their 70th Anniversary on Oct 1”.
The planned tariff hikes were for non-consumer items such as inputs for the production of goods. The Trump administration increased the levy for these items from 25% to 30% — a move that was highly opposed by US businesses as well as farmers, who have borne the brunt of China cutting off purchases of American soybeans, corn and other crops.
