China to accept tariff exemption applications on US goods from March 2

China on Tuesday said it will start accepting applications for tariff exemptions on 696 US-origin goods, including crude oil, LNG and refined products, from March 2.

Other commodities that will be eligible are petrochemicals, agricultural products like soybeans, coal and metals, according to a statement by the State Council's Tariff Commission published Tuesday on the Ministry of Finance website.

The exemptions will enable Chinese companies to import US goods and avoid the tariffs that were imposed by Beijing in retaliation for US tariffs in the ongoing trade dispute.