The Chinese government is considering suspending 125% tariffs on certain US goods, Bloomberg reported, citing sources.
Chinese authorities are considering lifting additional tariffs on medical equipment and certain industrial chemicals, such as ethane. According to some reports, Beijing is likely preparing to lift additional tariffs on at least eight categories of semiconductor-related goods.
According to Bloomberg, the parties are also discussing the cancellation of tariffs on aircraft leases by China from the United States. The agency notes that Chinese airlines, like many others, do not own all of their aircraft.
The concessions being considered by China would be a response to similar steps taken recently by the US. Earlier this month, the US removed electronics from the list of goods subject to a 145% import tariff from China. The US has exempted Chinese laptops, hard drives, processors, memory chips and flat-panel displays from tariffs.
The list of exemptions is still being finalised. The Chinese authorities have asked companies to provide lists of goods imported from the US that they need most.
Earlier, US President Donald Trump acknowledged that the 145% tariffs he imposed on Chinese goods were too high and promised to reduce them after a trade agreement with Beijing.
The Wall Street Journal, citing informed sources, reported that the Trump administration is considering reducing tariffs on Chinese imports to ease tensions with Beijing. According to a senior White House source, tariffs on Chinese goods could be reduced to 50-65%.
