China has exempted some US imports from its 125% tariffs, urging firms to identify critical goods they need levy-free.
The exemptions, which reportedly followed de-escalatory statements from Washington, signaled that the world’s two largest economies were prepared to rein in their conflict, which had frozen much of the trade between them, raising fears of a global recession.
Beijing’s exemptions, which business groups hope would extend to dozens of industries, pushed…
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