China will further extend tariff exemptions for some goods imported from the U.S. until mid-February next year, the Ministry of Finance announced on Wednesday.
A senior trade expert said the extension of the exemptions of Chinese retaliatory tariffs is a reciprocal measure in response to the U.S. tariff exemptions adopted in late May.
The Office of the Customs Tariff Commission of the State Council, under the Ministry of Finance, said it has decided to maintain the tariff exemption policy for 124 products imported from the U.S. from July 1, 2022, to February 1, 2023.
The extension was given to goods listed when China lifted tariffs imposed on U.S. goods as countermeasures against U.S. Section 301, the statement said. The exemption expires on Thursday, June 30.
The Customs Tariff Commission disclosed a list of the products, including gold sand, ceramics and materials used in semiconductor manufacturing. This is the eighth time China has announced tariff exemptions on imported U.S. goods.
Gao Lingyun, an expert at the Chinese Academy of Social Sciences in Beijing, told the Global Times on Wednesday that the move is standard and reciprocal.
The Office of the United States Trade Representative announced in late May the further extension of six months of COVID-related product exclusions on goods from China. The exclusions cover 81 health care products and were initially granted on December 29, 2020.