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China weighs response to mixed signals from US

Chinese officials are weighing potential responses to a series of mixed signals emerging from the US, where officials have been touting progress in the phase one trade agreement, while at the same time reinstating tariffs on Chinese products. China remains committed to implementing the phase one deal, despite the Coronavirus epidemic that has seriously affected economic activities both in China and abroad, but the US should also focus on easing tensions with China and not raising them.

Even as China's trade dropped significantly in the first two months of the year, its soybean imports from the US jumped six fold year-on-year to 6.101 million tons, reports o Reuters. Also, Chinese companies have resumed importing US liquefied petroleum gas after Chinese officials exempted it from tariffs, The US will collect a 25 per cent tariff on certain Chinese products after a previous exemption expired and the US Trade Representative's (USTR) office did not extend the exemption on those goods, according to a recent notice from the USTR. The USTR would extend tariff exemptions for 11 categories of products - part of $34 billion worth of Chinese goods targeted by a 25 percent US tariff imposed in July 2018 - for another year, but left out 22 categories of products, including breast pumps and water filters. In addition, the US decided to slap anti-dumping and anti-subsidy duties on up to 262.2 percent and 293.5 percent, respectively, on Chinese wood cabinets and vanities imports.

 
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