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The Chinese government is considering cancelling part of the 125% duty on some US goods, including medical equipment, industrial chemicals and aircraft components. The move is aimed at reducing costs for Chinese companies and consumers affected by the escalation of the trade war with the United States, The Guardian reports.
The French company Safran has confirmed that China has already exempted some aircraft components, such as engines and landing gear, from duties. This demonstrates Beijing’s desire to reduce tensions with Washington and support key sectors of the economy.
Global financial markets reacted positively to this news, with Asian stock indices rising and gold prices falling by more than 1%, as investors took the possible easing of trade barriers as a signal of easing geopolitical tensions.
