Beijing dismisses President Donald Trump’s claims to participate in tariff negotiations.
The main leaders of China have pledged to approve support for the economy affected by a high -risk commercial war with the United States, since Beijing dismisses President Donald Trump’s claims to participate in the fee negotiations.
China’s Foreign Ministry spokesman Guo Jiakun said Friday that the two nations were not involved in formal conversations about the commercial war caused by the US Tarlier. UU. This month.
American tariffs on Chinese products are now 145 percent, while China’s retaliation levies over US imports have reached 125 percent.
China insists that the United States must first raise all “unilateral” rates to resolve commercial confrontation.
Economy support
Meanwhile, the main political leaders of China, including President Xi Jinping, convents a meeting on Friday, emphasizing support for companies and workers who face “external clashes,” said State News Agency Xinhua.
They also said they would see “working with the international community to activate multilatery and oppose unilateral intimidation practices,” he said.
The reading of the meeting “shows that the government is ready to launch new policies when the economy is affected by external shock,” Zhiwei Zhang, president and economist chief of ASSET management of Pinpoint, in a note wrote.
However, Zhang said that “it seems that Beijing is in no hurry to launch a great stimulus at this stage.”
“You need time to monitor and evaluate the moment and size of the commercial shock,” he added.
The Reuters news agency reported that China is evaluating the exemptions for select imports from USA., Althhege Beijing has not made any public statement on the subject.
Companies have been asked to identify essential goods that require relief of the rate, thought that an official list has not been published, according to the report.
Already exempt
A filtered document that circulates online suggested 131 categories of products, including pharmaceutical products and aerospace components, could be exempt.
The European Union Chamber of Commerce in China confirmed that it had raised the problem with the authorities, noting that many companies rely on critical imports from the United States.
Similarly, the US Chamber of Commerce declared that some pharmaceutical companies had already received exemptions for specific medicines.
The French aerospace firm Safran also reported having received exemptions for certain aircraft pieces. Analysts suggest that these movements could relieve costs for Chinese companies and reduce pressure on US exhibitors.
The Ministry of Commerce has not yet publicly commented on exemptions, redirecting consultations to “relevant authorities.”
Meanwhile, global markets remain vigilant due to the signs of a possible reduction from the United States and China.
