You are here: Home » International » News » Economy
Business Standard

China to exempt US imports from retaliatory tariffs to fight coronavirus

The new coronavirus has killed more than 250 people and infected nearly 12,000 across the country

Topics
Coronavirus | US imports | China

AFP | PTI  |  Beijing 

China retaliatory tariffs

Beijing announced Saturday that that can be used in China's fight against a deadly new virus will be exempted from retaliatory tariffs imposed in the trade war. The decision comes as is scrambling to contain the spread of the virus which has overwhelmed hospitals and caused shortages of medical supplies in the worst affected city, Wuhan.

The US and have been engaged in a bruising trade conflict for around two years, although both sides came to a ceasefire last month with Beijing agreeing to buy a further $200 billion of US products in a partial trade deal. But tit-for-tat levies remain on goods worth hundreds of billions of dollars.

On Saturday, announced that it would "implement more preferential import tariff measures from January to March 2020, to step up support for prevention and control of the (ongoing) epidemic".

Authorities added that "tariffs that have been levied (on goods used in the fight against the virus) can be refunded." Beijing said it would relax its rules on tariff exemptions, and this would extend to goods such as disinfectants, protective supplies and emergency command vehicles.

The new has killed more than 250 people and infected nearly 12,000 across the country.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Sat, February 01 2020. 20:25 IST
RECOMMENDED FOR YOU
.