US hints tariffs on Chinese imports could be relaxed

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

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.

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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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