February 24, 2020 Comments Off on China Shelves Additional U.S. Goods Penalties Following Trade Truce Views: 470 National News, Top National

China Shelves Additional U.S. Goods Penalties Following Trade Truce

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In a move that reflects a potential softening stance, China tabled adding more punitive tariffs on imports of U.S. industrial goods on Friday. The penalties were suspended for a year, starting Feb. 28.

The latest reduction in tariffs will affect industrial components and medical and factory equipment, according to the Finance Ministry, though it provided no details of the value of goods affected.

In recent weeks, both the U.S. and China have made a series of cuts or reductions in the penalties the countries had imposed against the other. Meanwhile, China is struggling to contain the coronavirus, as costs mount and factories, stores and other businesses have closed.

Real Capital Analytics (RCA) CRE economist Jim Costello says, “Investors hate uncertainty. The back and forth between China and U.S. on issues of trade issues caused uncertainty last year. That dispute about trade caused concerns about economic growth and that filtered through to what’s going to happen with commercial real estate. So, the fact that some of the trade tensions may be staring to ease, that could help cool fears of a worst-case scenario and improve investor sentiment.”

Read more at AP News

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