As per the commerce ministry's announcement on Wednesday, China has temporarily halted some non-tariff measures that were previously imposed on 17 U.S. entities from its unreliable entity list and 28 U.S. entities from its export control list. These entities were added to the lists in April.
China's unreliable entities list, which was updated on April 4, included 11 U.S. entities. Measures against these entities have been suspended for a period of 90 days, effective from Wednesday. Furthermore, measures against six more U.S. entities, which were added to the list on April 9, have also been paused. However, the duration of this suspension has not been disclosed.
In addition to these suspensions, China has also paused restrictions on 28 U.S. entities that were added to its export control list in April. These additions were made in two batches - 16 entities were added on April 4 and 12 were added on April 9. The suspension of restrictions on these entities will be in effect for 90 days.
Exporters who wish to ship dual-use items to these 28 entities during this period will need to submit an application to the commerce ministry, according to a statement from the ministry.
These suspensions follow China's recent decision to reduce tariffs on most U.S. goods from 125% to 10% for a three-month period. This decision was part of an agreement with Washington aimed at reducing trade tensions between the two countries.
Source: Investing.com
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