The United States is trying to bring down the heat of the trade war with China.
Soon after the completion of the fresh round trade talks between the deputy trade representatives of the two countries, the US announced a long list of Chinese-made goods that would be excluded from the import tariffs that had been imposed on them by the administration of the US President Donald Trump as a part of the trade war.
According to the three exemption lists made public by the Office of the United States Trade Representative on Friday, among the hundreds of goods that will no longer going to be hit with the tariffs include dog leashes, pool vacuum cleaners, electric skateboards, Christmas lights and drinking draws. These exemptions are signals of the latest cooling of the trade war between the two largest economies of the world.
Certain American imports including shrimp, fish meal, and cancer drugs were exempted from the tariff regimen by China last week. Then Beijing also lifted tariffs on import of US soy beans and pork. As a reciprocating gesture, the US also delayed the imposition of additional tariffs on certain Chinese goods by two weeks to October 15 which was to be imposed from October 1.
According to analysts, an improving relationship between the world’s two largest economies of the world is indicated by these exemptions and delays. The two countries have been embroiled in an acrimonious trade war since June.
Meeting between the trade representatives of the two countries is expected to be held in early October.
However analysts and market experts also point out that the trade war is long from being over. This became apparent after the cancellation of a planned visit of US farm regions by some members of the Chinese delegations that had gone to Washington for trade talks after the conclusion of the latest round of talks on Friday.
On Friday, Donald Trump however seemed optimistic about the talks. He said during a press conference that progress was being made in trade talks. He however also said that the aim of the United States is to strike a “complete deal” on trade deal with China and would not be satisfied by a partial deal.
Combined with the visit cancellation and the comment of Trump was taken as a negative sign by the stock market which promptly gave up the gains.
The exempted items came from different groups of tariffs that the Trump administration had placed on imported Chinese goods over the past year.
(Adapted from CNN.com)