China has come out with a new list of 79 US products eligible for waivers from retaliatory tariffs imposed at the height of the bilateral trade war. — Reuters pic
China's finance ministry said in a statement the new waivers will take effect on May 19 and expire on May 18, 2021. The latest list waives tariffs on products including ores of rare earth metals, gold ores, silver ores and concentrates. Beijing and Washington's top trade negotiators held a call last week and discussed implementation of the Phase 1 deal signed in January. Under the deal, China agreed to increase its purchases of US goods from a 2017 baseline by US$200 billion over two years, with about US$77 billion in increased purchases in the first year and US$123 billion in the second year.
Source: News Formal (newsformal.com)
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