Earlier, US President Donald Trump said that China was seeking to renegotiate the trade agreement with the United States, but that he was not interested to in doing so.
China’s finance ministry has said that the waiver exemption on US goods will last for one year, starting 19 may.
The Finance ministry has announced a new list of 79 US products that will be eligible for import tariff waivers.
The types of imports from the United States eligible for tariff waivers include rare earth ore.
Trump threatened earlier to terminate the trade deal with China if the country fails to live up to its promise under the Phase One accord, which went into effect on 14 February, to purchase some $250 billion worth of US goods.
The implementation of the deal was discussed last week by both countries’ trade delegations who hailed “a good progress on creating the governmental infrastructures necessary to make the agreement a success.”
Earlier, China’s General Administration of Customs reported that trade flow between the United States and China fell 15.2 percent year-on-year in the first quarter of 2020 due to the economic disruption caused by the COVID-19 pandemic and the lingering impacts of a trade war between Beijing and Washington.
Sourse: sputniknews.com
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