China on Sunday asked the US to completely eliminate its reciperoCal tariffs. The statement came when the Donald Trump administration has announced a discount in tariffs on some consumer electronic products and important chip manufacturing equipment.
In a notice released late Friday night, the US Customs and Border Protection said that smartphones, laptops, memory chips and other products will be exempted from global tariffs that were implemented by President Donald Trump this month.
What did China say on America’s decision?
China’s Ministry of Commerce termed the decision to exempt electronic and chip products from American tariffs as ‘a small step’. China says it is evaluating the impact of this discount.
The Commerce Ministry spokesman said in his statement, ‘We appeal to the US to take a concrete steps by correcting their mistakes. Eliminate wrong policies like reciperook tariff and return to the path of mutual respect.
Which companies benefit from American exemption
The new American exemption will benefit companies like Nvidia, Dell and Apple, which manufacture iPhones and other premium products in China. However, most Chinese products are still under widespread tariffs up to 145 percent, as China is excluded from the 90 -day tariff relief declared by the US.
This development has come to light at a time when China has implemented a counter -tariff of up to 125 percent on American goods from Saturday. Dragon has taken a strong stand against its biggest trade partner.
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