How China tariffs on US commodities after Phase 1 trade deal
BEIJING, Jan 16: China and the United States have agreed to terms of a Phase 1 trade deal on Jan 15 but Beijing has not reduced or waived tariffs on any commodities or energy further.
A senior Trump administration official confirmed on Wednesday that China will need to issue waivers or adjustments to tariffs to meet its buying commitments.
But so far Beijing has not committed to any new waivers or adjustments.
Late last year, the United States reduced some tariffs and Beijing canceled retaliatory duties that were scheduled to take effect on Dec. 15.
Before the Dec. 15, 2019, deal, US corn, sorghum, wheat, undenatured ethanol and refined copper cathodes had faced an additional tariff of 10per cent on shipments to China. Propane, cotton, aluminum scrap, copper scrap and rare earth magnets were all set for an additional 5per cent duty.
Below is a list and timeline showing how China's tariffs on key US commodities and energy items stand after the Phase 1 accord.
China imposed a 5per cent tariff on US crude oil shipments from Sept. 1, 2019, the first time US oil had been targeted since the trade war between started more than a year ago. The 5per cent tariff was not affected by the Phase 1 deal. -Reuters