Home News U.S. lifts tariffs on 400 Chinese products, Trump cites trade progress

U.S. lifts tariffs on 400 Chinese products, Trump cites trade progress

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WASHINGTON (Reuters) – U.S. President Donald Trump mentioned his administration was “making a lot of progress” with China on Friday, as deputy-level trade talks continued for a second day and Washington lifted tariffs on over 400 Chinese merchandise.

FILE PHOTO: Containers are seen on the Yangshan Deep Water Port in Shanghai, China August 6, 2019. REUTERS/Aly Song

Trump, talking to reporters at a White House assembly with Australian Prime Minister Scott Morrison, mentioned the United States was taking in billions of {dollars} from tariffs imposed on Chinese merchandise, including that the entire would quickly attain $100 billion.

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

The United States Trade Representative’s workplace issued three Federal Register notices exempting a variety of merchandise from tariffs in response to requests from U.S. firms, which argued that the levies would trigger financial hardship.

The 437 exempted merchandise vary from printed circuit boards for pc graphics processors to canine collars, laminated wooden flooring and miniature Christmas lights.

Chinese and U.S. negotiators are holding two days of talks that had been anticipated to focus closely on agriculture, and lay the groundwork for high-level talks in early October that will decide whether or not the 2 nations are working towards an answer or headed for brand spanking new and better tariffs on one another’s items.

A delegation of about 30 Chinese officers, led by Vice Finance Minister Liao Min, met counterparts on the U.S. Trade Representative’s (USTR) workplace close to the White House. Deputy USTR Jeffrey Gerrish led the U.S. delegation.

The United States is asking that China considerably improve purchases of American soybeans and different farm commodities, an individual with information of the deliberate discussions instructed Reuters.

Chinese delegates will go to American farm areas with U.S. officers subsequent week, in a gesture of goodwill.

However, the Trump administration and China’s Communist Party stay far aside on points which might be the premise of their trade dispute, together with the U.S. declaring some Chinese state firms nationwide safety dangers, and Beijing’s refusal to revamp its financial mannequin by eliminating subsidies for state firms.

Trade consultants, executives and authorities officers in each nations say that even when the September and October talks produce an interim deal, the U.S.-China trade struggle has hardened right into a political and ideological battle that runs far deeper than tariffs and will take years to resolve.

Observers in Beijing mentioned the brand new tariff exemptions had been a welcome signal, however the trade talks stay on a fragile footing.

The exemptions are “seen as a goodwill signal by China,” Hu Xijin, editor of the influential state-run tabloid Global Times, mentioned Friday on Twitter. “Interaction of goodwill between China and the U.S. is still fragile.”

Reporting by David Lawder, Lisa Lambert, Heather Timmons; Editing by Tom Brown

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