Containers sit at the Yangshan Port in Shanghai, China, Aug. 6, 2019.
Aly Song | Reuters
China’s Ministry of Finance announced plans to exempt 16 types of U.S. products from additional tariffs on Wednesday, including whey and fish meal products and some lubricants.
The exemption, which is scheduled to go into effect from September 17, will be valid for a year through to September 16, 2020.
The Ministry of Finance announced on its website that items on two separate tariff exemption lists would not be subject to additional charges imposed by China on U.S. goods.
Washington and Beijing have imposed tariffs on billions of dollars’ worth of one another’s goods since the start of 2018, battering financial markets and souring business and consumer sentiment.
