BEIJING - Chinese importers are preparing applications for waivers on import tariffs levied on more than 700 U.S. goods in the Sino-U.S trade war, after the finance ministry said it would start taking submissions.
The waivers are for tariffs imposed in July last year on $50 billion worth of U.S. goods in retaliation for similar measures taken by Washington. Beijing has since imposed additional tariffs on thousands of goods as a bitter trade war has escalated. Other goods on the list include tractors, motorcycles, mountain bikes and some pieces of medical equipment.
“The policy is mainly targeting firms that have bought and booked U.S. shipments earlier during the trade truce, mostly state firms, to alleviate their burden,” said a source at a state-owned enterprise, declining to be identified due to the sensitivity of the matter. But for some commodities like coal, importers may look for cheaper and higher-quality alternatives rather than applying for waivers for shipments from the United States.
WOW, wonder how long China would make it without exports to America.... 2 weeks....
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