While a few years ago there seemed to be a hopeless situation in trade relations between China and the United States, the trade war between the two great powers is now subsiding. China will extend tariff exemptions to dozens of US imported goods.
China will extend tariff exemptions on imports from the US for 81 types of goods. Exceptions will last until mid-April next year. The US Treasury Department said it on Thursday. This is the implementation of the first phase of the agreement on the establishment of trade relations, which the United States and China signed at the beginning of 2020, ie still under the administration of Donald Trump.
Tariff exemptions were originally scheduled to end on 16 September. These are duties that China has imposed on US products as a retaliation for US duties on products imported from China.
The trade war between the two countries flared up relatively shortly after President Donald Trump took office in 2017. According to him, it was necessary to force China to sit at the negotiating table, because it is said that mutual trade relations were set up at a significant disadvantage for the United States. The fact is that the US has a long-term trade deficit with China, which, according to Trump, has led to the loss of American jobs.