U.S. compiles a list of "white appliances" set for exemption from tariffs
Exclusive scoop from Reuters reveals China's secret "White List" of goods exempted from tariffs, but details remain tight-lipped.
China's clandestine move to waive tariffs on select pharmaceuticals, microchips, and aircraft engines hasn't been officially announced, but it's happening, as reported by Reuters. This "white list" has been kept under wraps, and there's no word yet on the specific goods and quantities that made the cut.
Sources from a pharmaceutical company exporting US-made drugs to China have reported receiving confidential communications about a list of goods that are now exempt from the tariffs. Similarly, some companies have been encouraged to contact the authorities to determine if their imported products qualify for the tariff-free status.
The Ministry of Commerce and Customs of China hasn't responded to Reuters' request for comment.
With the US President considering a potential trade deal with China, currently slapped with 145% tariffs, news of tariff reductions is sprouting. The Wall Street Journal, via a source, hints at possible tariff reductions on Chinese goods down to around 50-65%. Some suggestions propose the US could drop tariffs on Chinese imports to an appealing 35%, if the goods pose no threat to US national security. On the contrary, US tariffs could reach 100% for goods considered strategically crucial for US interests. In response to US tariffs, China hit back with a 125% rate on US imports. Trump recently expressed optimism about a trade deal with China, stating it's just around the corner, but insisting it would be a fair one (as quoted by Reuters).
Stay ahead of the game with our latest updates on @expert_mag. Follow us for all the breaking news on #Tariffs, #USA, #China, and #Business.
- Reuters reports that China's secret "White List" of goods exempted from tariffs includes pharmaceuticals, but the specific goods and quantities remain undisclosed.
- Some companies in the pharmaceutical industry have received confidential communications about potential tariff exemptions for their imports.
- The US President is considering a potential trade deal with China that could lead to tariff reductions on Chinese goods, potentially down to 35%, according to some suggestions.
- If a trade deal is finalized, US tariffs on Chinese imports considered strategically crucial could reach 100%, while tariffs on goods posing no threat to US national security might be reduced.
