Bloomberg reports some Chinese companies are applying for U.S. tariff exemptions as they inquire about the possibility of buying U.S. agricultural goods. That announcement comes over a week after President Donald Trump had complained about China not increasing its purchases of U.S. products. The exemption applications will be evaluated by experts that are appointed by the Customs Tariff Commission. Last week, Trump said, once again, that he could impose additional tariffs on Chinese imports because China wasn’t buying the large volumes of U.S. agricultural goods that he claims Chinese President Xi promised to buy.
The two leaders then agreed to a truce in their endless trade conflict after talks had collapsed in May. A release from the official Chinese news agency, Xinhua, says, “In order to meet the needs of Chinese consumers, Chinese enterprises are willing to continue importing certain agricultural products from the U.S. that are marketable in China.” Chinese authorities told the news agency that they’re “hopeful” that the U.S. will meet China halfway and “earnestly implement its commitments.”
Source: NAFB News Service