China Extends Tariff Exemption On 81 Products From U.S.

China Extends Tariff Exemption On 81 Products From U.S.

Andrew H. Sweet

Exemptions for commodities like shrimp and electric vehicle batteries expired on Thursday, but China has extended them until April 16, 2022.

The tit-for-tat trade war erupted during former U.S. President Donald Trump's term in office and saw tariffs slapped on billions of dollars worth of goods.

A Phase 1 interim trade deal agreed in January 2020 called for China to boost purchases of U.S. exports by $200 billion over two years. It expires at the end of the year, but Beijing is far behind the target, partly because of the COVID-19 pandemic.

The last extension granted by China was in May this year. Β It maintained tariff waivers on products including gold ore and rare earth metal ore.

Read the original story here.

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