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Thursday, October 17th, 2019

US lifts tariffs on 400 Chinese products, Pres Trump cites trade progress

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by September 21, 2019 Business

US President Donald Trump said his administration was making a lot of progress with China, as deputy-level trade talks continued for a second day and Washington lifted tariffs on over 400 Chinese products.

Trump, speaking to reporters at a White House meeting with Australian Prime Minister Scott Morrison, said the United States was taking in billions of dollars from tariffs imposed on Chinese products, adding that the total would soon reach US$100 billion.

I will say this: we’re making a lot of progress with China, Trump said.

The United States Trade Representative’s office issued three Federal Register notices exempting a wide range of products from tariffs in response to requests from US companies, which argued that the levies would cause economic hardship.

The 437 exempted products range from printed circuit boards for computer graphics processors to dog collars, laminated wood flooring and miniature Christmas lights.

Chinese and US negotiators are holding two days of talks that were expected to focus heavily on agriculture, and lay the groundwork for high-level talks in early October that would determine whether the two countries are working toward a solution or headed for new and higher tariffs on each other’s goods.

A delegation of about 30 Chinese officials, led by Vice Finance Minister Liao Min, met counterparts at the U.S. Trade Representative’s (USTR) office near the White House. Deputy USTR Jeffrey Gerrish led the US delegation.

Observers in Beijing said the new tariff exemptions were a welcome sign, but the trade talks remain on a delicate footing.

Source: NAM NEWS NETWORK

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