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China allowed exemptions from trade tariffs

China has published a list of chemicals produced in the United States that will be exempt from trade tariffs. The announcement follows less than a week after the agreement between Beijing and Washington to ease the tension between the economic superpowers. This concerns certain types of industrial glue and adhesives, industrial polymers and types of paraffin, which can be found in cosmetics and foodstuffs.

The exemption applies for a period of one year, starting on 26 December. As part of the closed ‘phase 1 deal’, which by the way does not yet include signatures, US President Donald Trump decided against a planned new series of taxes on Chinese products. China, in turn, promises to suspend additional measures related to US goods.

In September Beijing announced an exemption for a series of American products. Then it was about fish products and anti-cancer drugs, among other things. Recently the same announcement followed for a part of the import of goods such as pork and soybeans. Since the trade war between the countries broke out in full force more than a year ago, the import tariff on American pork has already been raised three times.

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