China tariff exemptions due to expire just after Trump takes office
Beijing is gearing up to retaliate against potential Trump tariffs on Chinese goods.
On Friday, the Ministry of Finance (MoF) announced its latest extension of tariff exemptions for imported US products.
Some context:, Since 2020, both countries have applied waivers on some tariffs imposed during the 2019 US-China trade war.
- MoF has been extending these tariff exemptions on a six-month basis.
But this time round, the tariff exemptions – originally due to expire on November 30 – have only been extended for three months.
- That means they will expire on February 28 – less than six weeks after Trump takes office.
The upshot: Unless Xi Jinping and Trump reach an early trade agreement, trade relations will rapidly deteriorate in 2025.
sources