China has granted some exemptions from its 125% tariffs on US imports and is asking businesses to identify goods that could be eligible in the clearest sign yet that Beijing is worried about the economic fallout from its trade war with Washington.
The dispensation is the latest sign that the world's two largest economies are prepared to rein in their trade war, assuaging concerns about the impact of the tariffs. Beijing's consideration of wider tariff exemptions for dozens of industries follows a shift in tone from Washington, pushing the US dollar up slightly and lifting equity markets in Hong Kong and Japan...
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