Dec 23, 2019

China to cut import tariffs on 850 products

A port in Lianyungang, Jiangsu Province, China on Dec. 4. Photo: Wang Chun/VCG via Getty Images

China is lowering import tariffs on more than 850 products, the country's finance ministry said in a statement Sunday night.

Driving the news: Goods to benefit from the Jan. 1 tariffs cuts include medication, tech and frozen pork — which could help China's meat shortages, driven by swine fever swine fever, Bloomberg reports.

The big picture: The U.S. and China agreed on Dec. 13 to a "phase one" trade deal, which averted a new round of tariffs scheduled to come into effect on Dec. 15, and a Chinese official said that the U.S. would reduce its tariffs on Chinese goods in stages.

Between the lines: Sunday's tariffs reduction is not directly linked to the U.S.-China trade war, but Bloomberg notes "it supports Beijing’s claim to be further opening its economy as it pursues a deal with the Trump administration."

Go deeper: Pork industry wants to cash in on "phase one" U.S.-China trade deal

Go deeper

Trump says he'll sign "phase one" trade deal with China on Jan. 15

President Trump tweeted Tuesday that he will sign the "phase one" trade deal with China in a ceremony at the White House on Jan. 15.

The intrigue: Trump did not indicate that Chinese President Xi Jinping would be in Washington for the occasion, saying that "high level representatives" would be present instead. Reports earlier this week indicated that Vice Premier Liu He, China's top trade negotiator, would be the one to sign on behalf of China.

Go deeperArrowDec 31, 2019

The "phase one" deal isn't all that it seems

Vice Premier Liu He and President Trump after signing phase one Wednesday. Photo: Mark Wilson/Getty Images

There was limited fanfare from the stock market after President Trump and Chinese Vice Premier Liu He signed the "phase one" trade deal yesterday.

What happened: The 94-page document will roll back some U.S. tariffs on Chinese goods and see China increase purchases of U.S. goods and services by $200 billion over two years, but it leaves more questions than answers, experts say.

Go deeperArrowJan 16, 2020

China doubles U.S. soybean imports after "phase one" trade deal announcement

Photo: Joe Raedle/Getty Images

China imported 2.6 million tons of U.S. soybeans in November — more than double the previous month — after the announcement of its "phase one" trade deal with the U.S. in October, AP reports.

Why it matters: Soybeans are China's largest U.S. import, but the country stopped purchasing them in the midst of a trade war spurred by U.S. tariffs. While specific details surrounding the "phase one" agreement have yet to be released, the portions unveiled earlier this month amount to little more than an agriculture purchase agreement, per Axios' Dan Primack.

Go deeper: China to cut import tariffs on 850 products

Keep ReadingArrowDec 26, 2019