China grants exemption for $40 billion worth of goods! Bloomberg reported that over the past week, a tax exemption list involving 131 American products has been circulating among traders and enterprises. The exempted categories include pharmaceuticals and industrial chemicals. The U.S. media stated that these 131 items are valued at approximately $40 billion, accounting for about 24% of China's total imports from the United States in 2024.
Relevant experts said that China did this to avoid shortages of key items and thereby reduce harm to the economy. However, these exemption measures should not be seen as sending signals to the U.S. side. What do we think of this news reported by U.S. media? If this message is true, it shows that we have handled the trade war very wisely. Why do we say so? Because earlier, the U.S. had already granted exemptions for Chinese products that must be imported to mitigate the impact on its own economy.
Since the U.S. is making every effort to avoid the impact of the trade war on itself, of course, we should also avoid the impact of the trade war on us. The trade war is a test of courage, intelligence, not a matter of willfulness. In fact, the trade war is about who can hold out longer and who can withstand more pressure. The official channels of our country have not released any information about exempting American goods, which indicates that our overall attitude towards the U.S. has not changed at all.
Moreover, what we did was also to tell the U.S. that if the U.S. cools down, we will cool down too; but if the U.S. does not cool down, we won't either. This is the message we conveyed through "the one who tied the bell must untie it." If the U.S. hopes that we cancel all countermeasures and tariffs, then the U.S. has only one option: cancel all unreasonable tariffs imposed on us entirely. Undoubtedly, the ball is back in the U.S.'s court now.
Original source: https://www.toutiao.com/article/1831072020967434/
Disclaimer: The article represents the views of the author alone.