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US hints tariffs on Chinese imports could be relaxed

By Lawrence Gash

As trade talks continue, some $34bn of imports could be tariff-exempt

US hints tariffs on Chinese imports could be relaxed

Tariff suspensions on nearly 1,000 Chinese products that come into the US, due to expire in December, may be extended.

The goods worth $34bn (£26.5bn, €30.7bn) are due to see the 25 per cent tariffs first set in July last year re-imposed at the end of 2019. As trade talks between the US and China gain pace, the move could be seen as a gesture to help reach an early conclusion.

Analysts said the pace of discussion had quickened this year; a relief to global businesses, which have seen the effects of the dispute hit many sectors.

China and the US are understood to be close to finalising phase one of a deal. President Donald Trump has said the agreement will address intellectual property and financial services. President Trump and Chinese President Xi Jinping areset to sign the agreement on November 17.

Last month, as reported on this website, China said it plans to exclude American farm goods, including soybeans, from tariffs.

The 16-month dispute arose as the US sought to address a $419.2bn trade deficit with China.

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