🕵️ The Chinese government is considering suspending additional 125% tariffs on some imports from the United States, according to people familiar with the matter, Bloomberg reported. This comes amid the significant economic burden the trade war is imposing on certain industries.
✨The exporters, who requested anonymity to discuss internal matters, said Chinese authorities are considering removing these additional tariffs on some medical equipment and industrial chemicals such as ethane.
🎯Discussions are also underway about exempting aircraft leasing contracts from tariffs. Many Chinese airlines, like their global counterparts, do not own their entire fleet of aircraft but lease them from foreign companies, which would have been a significant financial burden had the additional tariffs been imposed.
📉The possibility of exempting some goods from tariffs has boosted investor confidence, with Asian stocks rising and the yuan fading, while global gold prices declined. Dow Jones Industrial Average futures rose 1.2%, or nearly 500 points. Standard & Poor's 500 futures rose 2%, while Nasdaq Composite futures rose about 2.7%.
