China announced on Tuesday a new list of 79 U.S. products eligible for waivers from retaliatory tariffs imposed at the height of the bilateral trade war, amid continued pressure on Beijing to boost imports from the United States.
China’s finance ministry said in a statement the new waivers will take effect on May 19 and expire on May 18, 2021. The latest list waives tariffs on products including ores of rare earth metals, gold ores, silver ores and concentrates.
The ministry did not disclose the imports value of the products. Beijing in February said it would grant exemptions for 696 U.S. goods including key products such as soybeans and pork based on applications from companies.
Beijing and Washington’s top trade negotiators held a call last week and discussed implementation of the Phase 1 deal signed in January.
Under the deal, China agreed to increase its purchases of U.S. goods from a 2017 baseline by $200 billion over two years, with about $77 billion in increased purchases in the first year and $123 billion in the second year.
Renewed tensions between the two countries, sparked by the COVID-19 pandemic that began in China late last year, are also raising questions about the trade truce.
U.S. President Donald Trump has threatened to terminate the deal if China fails to meet its purchase commitments.
China’s Global Times, published by the official newspaper of the ruling Communist Party, also reported on Monday that some government advisers were urging Beijing to invalidate the trade deal and negotiate one more favourable to China.
The Chinese foreign ministry adopted a measured stance on trade on Tuesday despite the heightened tensions between the two countries, saying the existing Phase 1 deal is a good thing for both China and the United States.
“China and America reaching the Phase 1 trade deal benefits China, benefits the U.S. and the whole world,” Zhao Lijian, spokesman at the foreign ministry, said at a regular media briefing in Beijing.
“Both sides should carry out the agreement while sticking to the principles of equality and mutual respect.”
- ‘How can people lie like this?’ – E. T. Mensah on NDC’s Saglemi Housing project defence
- Volta, Bono, Bono East regions emerge as Covid-19 hotspots
- 10 more deaths recorded in Ghana’s Covid-19 fight
- UG to cough up $165m judgment debt for abrogating Africa Integras partnership
- Founders’ Day: We must work to free ourselves from colonial power that binds us – Akufo-Addo
- Michael Jai White loses oldest son to Covid-19
- Stop rolling out new projects until all existing ones are completed – Mahama tells government
- If any person should be prosecuted over Saglemi, it should be E. T. Mensah – Stan Dogbe
- Today’s front pages: Thursday, August 5, 2021
- Chief’s linguist shot dead during robbery operation
August 4 demonstration is just the beginning of processes to #FixTheCountry Convener – Barker-Vormawor
Man shot dead in robbery attack at Akyem-Asuom
Tourism Minister charge youth to share ideas to help revive sector
Assume good position when breastfeeding to avoid complications – Midwife advises women
Applications for UK government’s Chevening Scholarships opens
#FixTheCountry demonstration to be replicated in Kumasi and all other capitals – Convenors
Livestream: NPP commemorates 29-year anniversary
Tokyo 2020: Ghana’s 4×100 men’s team qualify for final after breaking national record
BoG’s trading platform : cedi hits ¢5.99; forex bureaux sell at ¢6.01 plus
We’ve lost about ¢720k to African Swine fever – Saki pig farmers
UG to cough up $165m judgment debt for abrogating Africa Integras partnership
Our Covid-19 testing device at KIA is reliable – FDA
Today’s front pages: Thursday, August 5, 2021
IMF lowers Ghana’s inflation forecast to 9.6%
African governments must enact laws to sanction sources of misinformation – ECOWAS