China Waives Retaliatory Tariffs on Certain US Semiconductor Imports Amid Trade War
Overview of Tariff Waivers
China has officially waived its retaliatory 125% tariffs on select US chip imports as reported by Caijing, a prominent business magazine. The decision to exempt certain integrated circuit (IC) related tariff codes signals a potential easing of the trade war.
Impact on Semiconductor Supply Chain
This move by China could alleviate some disruptions in the semiconductor supply chain. Notably, China's customs authorities stated that any duties paid on exempted semiconductors from April 10 to 24 are eligible for refunds.
Market Reactions
- SMIC, the largest foundry in mainland China, saw its shares dip by 1.3% following the report.
- Hua Hong Semiconductor's stock dropped 4.4%.
- In contrast, the Hang Seng Tech Index experienced a rise of nearly 1.9%.
Implications for Future Trade Relations
If verified, these tariff waivers could signify a shift toward improved relations between the US and China amidst ongoing tensions.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.