6 days Ago
China appears to have quietly rolled back retaliatory tariffs of 125% on some semiconductors made in the United States, according to details provided to CNN on Friday by three import agencies in the southern technology hub of Shenzhen. The exemptions apply to integrated circuits, also known as microchips or semiconductors, according to the import agencies. They found out about the exemptions, which have not been officially announced, on Thursday.
On April 12, China raised its reciprocal tariffs to 125% for all goods originating from the United States, in response to US President Donald Trump’s move to elevate levies on Chinese goods to a sky-high 145%. For months, Beijing has been projecting an air of strength and confidence in its ability to withstand an escalating trade war with the US. But these exemptions suggest it needs to roll back some levies on crucial items that it cannot make at home or source elsewhere.
Chinese authorities have not confirmed the exemptions publicly. The General Administration of Customs and the customs office in Shenzhen said they were not aware of the exemptions. This is a developing story and will be updated.
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