China to introduce measures to ease the negative impact of a trade war
China will introduce necessary measures to ease the negative effects of the trade war with the United States, - said Hu Xijin, the editor in chief of the Global Times newspaper, on Wednesday. "The measures will benefit some companies from both China and the U.S.," he wrote on Twitter.
According to a statement from the Ministry of Finance on Wednesday, China moved to exempt 16 types of U.S. products from additional retaliatory tariffs, including whey and fish meal, which are fed to animals, and some lubricants. The exemption will take effect on September 17 and be valid for a year through to Sept. 16, 2020.
The ministry said items on the two tariff exemption lists posted on its website would not be subject to additional duties imposed by China on U.S. goods "as countermeasures to U.S. Section 301 measures".
Meanwhile, Hong Kong activists called off protests on Wednesday in remembrance of Sept. 11, 2001, attacks on the United States and denounced a Chinese state newspaper report that they were planning "massive terror" in the Chinese-ruled city.
Hong Kong has been rocked by months of sometimes violent unrest, prompted by anger over planned legislation that would have allowed extraditions to China but broadening into calls for democracy and for Communist Party rulers in Beijing to leave the city alone. Hong Kong leader Carrie Lam has said she would withdraw the bill, but many Hong Kong residents fear Beijing is steadily eroding the city's autonomy.