China announced plans on Friday to lift some tariffs on U.S. soybeans and pork.
A CNN report says the move could be designed to take some of the heat out of the talks aimed at bringing a truce to the trade war. The Chinese finance ministry said last week it would waive taxes on some imports once companies had applied for exemptions. It didn’t specifically say which goods or how many of the goods would be exempted.
Back in September, China said it would exclude some soybeans and pork products from its newest tariffs. China’s Customs Tariff Commission of the State Council says it will “dedicate a range of goods to be excluded from tariff countermeasures against the U.S. Section 301 measure.”
President Donald Trump had told reporters late last week that talks with China were going well and hinted that he may not place new tariffs on Chinese goods on December 15th as planned.
When asked about the new tariffs going into effect on December 15th, Trump said “We’ll have to see. Something could happen but we aren’t discussing that yet. However, we’re having very good discussions with China.”