China said to weigh exempting some US goods from tariffs as costs rise

There are two separate reports on China tariffs. The first from Bloomberg says China is weighing exempting some US goods from tariffs.

It’s not exactly comprehensive though:

“Authorities are considering removing the additional levies for medical equipment and some industrial chemicals like ethane, the people said … Officials are also discussing waiving the tariff for plane leases, the people said.”

That’s not exactly a long list but it’s moving markets. You could argue that some small exemptions lay the groundwork for leaving the broader tariffs on for longer.

A separate report from Caijing cites several Chinese tech companies who confirmed that 8 tariff codes related to semiconductors and circuits are now exempt from additional tariffs.

USD/JPY is at the highs of the day, up 66 pips to 143.29 last. There are some broader USD bids as well.

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