Washington excludes some Chinese medical products from tariffs
[WASHINGTON] The US Trade Representative's (USTR) office said it granted on Thursday exclusions from import tariffs for some medical products imported from China, including face masks, stethoscope covers and blood pressure cuff sleeves.
The exclusions were granted as the United States grapples with the novel coronavirus outbreak that threatens to strain its healthcare system. Earlier this month, the USTR granted exclusions for other Chinese medical products, including hand-sanitising wipes and examination gloves.
The products were included in a fourth round of tariffs on Chinese goods imposed by President Donald Trump on Sept 1 last year amid heated US-China trade negotiations.
The tariff rate on the medical products was initially set at 15 per cent, but was lowered to 7.5 per cent on Feb 15 as part of the Phase 1 US-China trade agreement. The deal leaves in place tariffs on about US$370 billion worth of imports from China, including 25 per cent duties on goods valued at around US$250 billion. REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Japanese companies struggle with yen’s continued weakness
Australia’s March goods trade surplus narrows to more than 3-year low
Hong Kong holds rate as Fed signals inflation concerns
Australian business strength is shocking even its biggest lender
South Korea’s factory activity shrinks in April, but optimism about outlook ticks up
US sanctions firms in China, UAE for support of Russia’s war