The United States Trade Representative's office issued three Federal Register notices a wide range of products from tariffs in response to requests from US companies, which argued that the levies would cause economic hardship.
The Chinese delegation did not present any new proposals on core structural issues including intellectual property protections, forced technology transfers, industrial subsidies and other trade barriers, said a person briefed on the talks. But the exemptions aren't only meant to mollify Beijing but would also help American businesses hurt by President Trump's tariffs, particularly as he and members of his administration have made inconsistent statements around the possibility of a trade deal.
Just a week ago, China announced it was canceling tariff increases on us soybeans and pork after easing tariffs on 16 USA products, including lubricant oils.
Three documents will be released by the Office of the U.S. Trade Representative wherein the items included in the exemption are plastic straws, Christmas tree lights, some types of water fountains, and more. According to the South China Morning Post, Pillsbury explained that if ties completely get deterred, it would be a result of a "no-deal" scenario.
Trade officials from both sides are expected to resume negotiations in Washington next month. Trump responded to that by delaying tariffs by up to two weeks on $250 billion worth of goods ahead of Beijing's 70anniversary of the Chinese revolution.
Beijing also seeks an easing of USA national security sanctions against telecom equipment maker Huawei Technologies [HWT.UL], which has been largely cut off from buying sensitive US technology products.
The trade war, which has dragged on for 14 months, has rattled financial markets as policymakers and investors worry about the broadening global economic fallout of the dispute.
President Donald Trump said that the United States might soon strike the "greatest deal ever" with China. The Federal Reserve on Wednesday cut rates for the second time this year to provide "insurance against ongoing risks".
The US tariffs targeted some US$300 billion in goods imported from China, with a 15% tariff taking effect in two phases, on September 1 and December 15.
The two countries have not yet implemented their tariff increase.
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