China released a second list of U.S. goods that would be exempt from the first round of countervailing tariffs, in signs of further trade progress with the U.S.
Products including white oil and high-density polyethylene from the U.S. will be free from levies for a period extending from Dec. 26, 2019, to Dec. 25, 2020, the Customs Tariff Commission of China's State Council stated. However, tariffs that have already been imposed would not be refunded.
In due course, the council would announce further such lists of U.S. goods that would be exempt from an additional round of Chinese tariffs.
The announcement follows news that China is set to grant additional tariff waivers to buyers of agriculture products from the U.S. on a more frequent basis.
Negotiators from the two sides are in continuous communication over the signing of the "phase one" deal, the Chinese commerce ministry said earlier in the day, according to Reuters.