China is considering exempting some American products from customs tariffs: reports

China is considering exempting some imports from the United States from the 125 percent definitions imposed by it earlier this month, with the continued reprisal measures between the two largest economies in the world, multiple outlets said on Friday.

The Chinese authorities weigh whether to raise import taxes from medical equipment and some chemicals, such as ethane, according to Bloomberg News. In addition, Beijing is also considering hitting a customs tariff on rental contracts.

“There are some companies that said that if the war of long -term tariffs continue, their business model will not work in China, and we will see them going out,” Michael Hart, President of the American Chamber of Commerce in China, told the New York Times. “We shared this with the Chinese government because they are of course trying to enhance foreign direct investment.”

Hart noted at times that life -saving drugs and some other health care products provide concerns about supply chains in the country.

The Ministry of Commerce in China brings together a list of elements that may be exempt from highly ticket definitions and asks companies to share their own requests.

President Trump escalated the trade war with almost every country around the world, including China. He raised import taxes coming to the United States from China to 125 percent earlier this month, in addition to 20 percent. Beijing later took revenge, slapped the duty of 125 percent on American products.

The president – who temporarily stopped most of the 90 -day mutual definitions, has indicated, with the exception of China – in recent days that negotiations are ongoing and can reduce the taxes imposed on China.

Chinese officials revealed the idea on Thursday, saying, “Any claims about the progress of trade negotiations between China and the United States of America are baseless from an attempt to arrest the wind and have no realistic basis.”

Trump had retreated, and reporters at the White House on Thursday that administration officials “held a meeting this morning” with their Chinese counterparts.

“It does not matter who they are.” We may reveal this later, but they held this morning, and we may meet with China. “