China Exempts Some US Products from Tariffs List

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China says it will exempt a handful of U.S.-made products from the latest round of retaliatory tariffs sparked by the escalating trade war between the two global economic powers.

China's Finance Ministry released a list of 16 items spread across two lists that would not be subjected to additional tariffs, including shrimp, industrial grease, an advanced cancer fighting machine, lubricating oil and various other chemicals. The exemptions will take effect on September 17 and remain in effect for one year.

Washington and Beijing have been engaged in a series of escalating tit-for-tat tariffs for more than a year, sparked by U.S. President Donald Trump's initial demand for changes in China's trade, subsidy and intellectual property practices.

The latest round of tariff increases took effect on September 1, when Trump imposed 15% tariffs on about $112 billion worth of Chinese goods, including sports equipment, sportswear, musical instruments and furniture.

China countered with tariffs as high as 10% tariffs on $75 billion of U.S. exports to China, including corn, pork, marble and bicycle tires.

Negotiators from the two sides will meet later this month to lay groundwork for a new round of high-level trade talks that will be held next month in Washington. The last round of talks held back in July ended without a major agreement to end the stalemate.

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