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Economy

China releases list of second batch of tariff exemptions for U.S. goods

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2020-02-21 20:12:30CGTN Editor : Gu Liping ECNS App Download

China has released a list of the second batch of tariff exemptions for U.S. imports previously announced to take effect as of February 28 for one year, according to the Ministry of Finance on Friday.

Goods exempt from the extra tariffs include aircraft parts and medical equipment, according to the statement published on the ministry's website.

The exemption covers two lists of goods. The first list allows affected import enterprises to apply for refunds of collected duties within six months from Friday. The second list allows firms to enjoy the exemption but does not allow tariff refunds.

Next, the commission will continue to work on the exemption process and release subsequent lists in due course, according to the statement.

March 2

Meanwhile, China will begin receiving applications for tariff exemptions on certain U.S. imports starting March 2, according to a statement by the Customs Tariff Commission of the State Council of China last week.

The exemption list includes 696 types of U.S. products from the likes of seafood, chemical products, timber, medical equipment, liquefied natural gas and crude oil.

This policy covers a specific list of products and applies to domestic firms who plan to sign deals to purchase and import these products from the United States in a market-oriented and commercial fashion.

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