China authorities are considering removing additional duties for medical equipment and some industrial chemicals, such as ethinane
China’s government is considering the possibility of suspension of duties 125% In some US importsas people who know the issue have said, as the financial cost of the trade war seems to be seriously burdened by certain industries.
According to Bloomberg, Chinese authorities are considering the possibility of removing additional duties for medical equipment and certain industrial chemicals allHow Ethane, the sources mentioned while maintaining their anonymity while discussing and discussing lifting duties for airplane leases. Like many airlines, Chinese do not hold all their aircraft, so they pay lease fees to third companies to use some jet – payments that would have been financially disastrous with the additional duty.
These exceptions examined by China reflect similar moves from the US, which excluded electronics from the duty 145% to Chinese imports earlier this month.
The world’s two largest economies seem to be deeply connected, with some basic industries stopping their operation after the trade war.
While the US is importing much more products from China, this move of Beijing retreat highlights its sectors of its economy that still depend on American products. China is the largest manufacturer of plastics in the world, but some of its plants depend on ethane, which is mainly imported by the US. And its hospitals are based on advanced medical equipment, such as magnetic resonance imaging and ultrasound, manufactured by US companies such as Ge Healthcare Technologies Inc.
The list of exceptions is still under development and discussions may not go ahead, Bloomberg notes.
Beijing is also preparing to resign from additional duties to at least eight semiconductor products, Caijing said on Friday, citing anonymous sources. It notes, however, that these categories do not include memory chips at present, which is likely to blow a blow to Micron Technology Inc., the third largest memory chip manufacturer in the world.
The Trump government, for its part, has excluded smartphones, computers and other electronics from its so -called mutual duties – a significant relief for global technology manufacturers, including Apple Inc. and Nvidia Corp., though possibly temporary. The exceptions apply to smartphones, laptops, hard drives and computer processors, memory chips, and flat -screen screens.
Source: Skai
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