China has announced that it will reduce by half the additional fee on 1717 imported US products, introduced last year. The changes will take effect on February 14.
Additional duties on some American goods will be reduced from 10% to 5%, others 5% to 2.5%, according to a statement from the Ministry of Finance of the PRC.
the Reduction will affect imports from the US amounting to about 75 billion dollars, the duties on which were introduced on 1 September 2019, said in a separate statement on the Ministry’s website.
In a statement, the Ministry of Finance of the PRC States that the reduction of duties is intended to “promote healthy and stable development of Sino-us trade.” It does not specify whether this step with the outbreak of the coronavirus in China.
on Saturday, the authorities said that it would suspend retaliatory duties on goods from the USA, which can be used to combat the outbreak of coronavirus.
January 15, the US and China signed a trade agreement the first phase. Their signatures under the document were put by US President Donald trump and Vice-Premier of the state Council of the PRC Liu he.
under the agreement in the next two years China agrees to invest in the purchase of American goods by $200 billion more than in 2017. This applies mainly to industrial goods and agricultural products but also covers energy commodities, including oil, LNG and coal.
Although the deal for the first phase has significantly eased tensions, it did not put an end to the trade war between the two biggest economies in the world. Remain in force U.S. duties on Chinese imports in the amount of 370 billion.
China hopes that he and the U.S. will be able to comply with the terms of the trade deal to boost market confidence, stimulate the development of bilateral trade and to contribute to global economic growth, said the Ministry of Finance of the PRC.