ANTICIPATING TRADE TALKS: CHINA EXTENDS TARIFF EXEMPTION FOR U.S. IMPORTS

China will extend a tariff exemption for dozens of products imported from the United States, the Finance Ministry said Monday, amid expectations the world's two major powers may resume their trade talks in the near future, Kyodo News reported.

The move appears to be aimed at preventing the further deterioration of Beijing and Washington relations ahead of the possible first trade negotiations under President Joe Biden's administration, launched in January.

The 79 items include rare earth ore, gold ore and medical sterilization, according to the ministry. The exemption will be extended from Tuesday until Dec. 25.

Such products were previously exempted from the additional tariffs China imposed on U.S. imports to retaliate against the United States for escalating a bilateral trade dispute. China has also extended exemptions for other U.S. items so far.

In February last year, a "phase one" trade deal between Beijing and Washington took effect, which requires discussions on the development of the agreement every six months. But their trade talks have been stalled since August last year.

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