By Se Younger Lee and Yawen Chen
By Se Younger Lee and Yawen Chen
BEIJING, Feb 6 (Reuters) – China stated on Thursday it’s going to halve further tariffs levied in opposition to 1,717 merchandise imported from the US final 12 months, following the signing of a Part 1 commerce deal that introduced a truce to a bruising commerce battle.
China’s finance ministry stated in an announcement that tariff reductions for the related items, which had been applied on Sept. 1, will take impact from 0501 GMT on Feb. 14.
The reductions come about three weeks after the 2 nations signed the Part 1 commerce deal in Washington. That settlement included China’s promise to spice up purchases of U.S. items and companies by $200 billion over two years in alternate for the US rolling again some tariffs imposed in opposition to Chinese language items.
The information was optimistic for monetary markets and comes as Beijing seeks to shore up investor and enterprise confidence in China as a virus outbreak casts deep uncertainty over the financial outlook.
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