Trade War in Retreat?
China Concedes with US Semiconductors
Will Tariff Relief Boost Cryptos?
China has begun to quietly reduce tariffs imposed on some US semiconductors and is considering expanding exemptions to other US industries, including medical equipment and certain industrial chemicals like ethane.
This move comes amid efforts by the two largest economies in the world to mitigate the potentially devastating effects of their prolonged trade war.
Tariffs on at least eight classifications of US microchips have been reduced to zero, a significant drop from the 125% retaliatory tariff that China imposed on all other US products, reported Caijing, a Chinese financial magazine, on Friday.
Although the article was later removed, two importers confirmed that certain semiconductors were exempt from the high tariffs, according to The Washington Post.
