China announced tariff exemptions on 16 different products imported from the United States on Wednesday as negotiations are set to resume to end the trade war in the two nations.
According to a declaration from the Chinese Ministry of Finance, U.S. goods exempted from Chinese tariffs include lubricating oil, anti-cancer drugs, and some solvents.
The exemptions come as Chinese and U.S. trade teams have agreed to resume early October talks to end their year-long trade conflict that is slowing the world economy.
The exemptions are a “gesture of goodwill,” said Global Times, ahead of the discussions.
The U.S. enforced tariffs of 15 percent on Chinese products worth $112 billion earlier this month, including televisions, books, nappies and sports shoes.
Simultaneously, 5% and 10% Chinese tariffs targeting around $75 billion in U.S. products went into force.
The actions were the latest in an escalating trade war in which Washington accuses Beijing of unfair trade practices, theft of intellectual property, and unfair access for overseas and domestic companies to the Chinese market.
