China announces exemption of additional tariffs on more US products

China on May 12 released a new list of US products that will be exempted from the second round of additional tariffs on US products.

This is the second list of US goods to be excluded from the second round of tariff countermeasures against the US Section 301 measure, according to a statement from the Customs Tariff Commission of China's State Council.

The exemption will be valid from May 19, 2020 to May 18, 2021, it said.

Tariffs that have already been levied will be refunded, said the statement.

The remaining US products subject to China's second round of additional tariffs will not be excluded for the time being, it said.

For US products that are not on the first two lists, the commission advised enterprises to apply for the exemption of additional tariffs following a specific product list that applies to domestic firms which plan to sign deals to purchase and import these products from the United States in a market-oriented and commercial fashion.