Brazil and World
China x US: New import tariffs suspended
China and the United States will suspend the application of new tariffs on imports that would come into effect on Sunday, Dec 15th. Chinese Vice Minister of Commerce Wang Showen said the first phase of trade negotiations between the two countries had made great progress.
Showen reported that the US should gradually reduce the additional tariffs imposed on Chinese products and China should broaden the protection of corporate interests in its territory, while also committing itself to increasing imports of energy, agricultural products, pharmaceuticals and financial services from USA.
Even suspending the tariffs that were supposed to be effective by Sunday, the existing 25% tariffs will be maintained.
“With the milder relationship between the countries, the North American product becomes more competitive in China. Markets supplied by the US may have a reduction in the volume offered, which makes room for Brazilian non-China-enabled slaughterhouses”, explains Giordano Fiorentin, Trade Marketing Supervisor at KIT International.